Analysts expect Boston Scientific Co. (NYSE:BSX) to post earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Boston Scientific’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.36. Boston Scientific reported earnings of $0.33 per share during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, April 24th.
According to Zacks, analysts expect that Boston Scientific will report full year earnings of $1.56 per share for the current year, with EPS estimates ranging from $1.54 to $1.57. For the next financial year, analysts forecast that the firm will report earnings of $1.79 per share, with EPS estimates ranging from $1.72 to $1.88. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Boston Scientific.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS.
BSX has been the topic of several recent research reports. Canaccord Genuity dropped their target price on Boston Scientific from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. Argus raised their price objective on Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. SunTrust Banks reissued a “buy” rating and issued a $47.00 price objective on shares of Boston Scientific in a research report on Friday, February 8th. Guggenheim reissued a “buy” rating and issued a $48.00 price objective on shares of Boston Scientific in a research report on Friday, February 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective on shares of Boston Scientific in a research report on Wednesday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Boston Scientific presently has an average rating of “Buy” and an average price target of $40.72.
NYSE BSX traded down $0.52 during midday trading on Friday, hitting $35.65. 414,755 shares of the company traded hands, compared to its average volume of 6,543,217. The company has a current ratio of 0.76, a quick ratio of 0.54 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $50.29 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Boston Scientific has a 52 week low of $27.91 and a 52 week high of $41.00.
In related news, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $38.15, for a total value of $190,750.00. Following the completion of the transaction, the executive vice president now owns 29,201 shares in the company, valued at approximately $1,114,018.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 1,357 shares of Boston Scientific stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $40.25, for a total value of $54,619.25. Following the completion of the transaction, the executive vice president now owns 38,940 shares of the company’s stock, valued at approximately $1,567,335. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,352 shares of company stock valued at $13,701,434. 0.66% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in BSX. We Are One Seven LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at $27,000. Ipswich Investment Management Co. Inc. bought a new position in shares of Boston Scientific in the 4th quarter valued at about $28,000. Athena Capital Advisors LLC bought a new position in shares of Boston Scientific in the 4th quarter valued at about $28,000. CWM LLC boosted its stake in shares of Boston Scientific by 54.3% in the 4th quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 359 shares during the last quarter. Finally, West Oak Capital LLC boosted its stake in shares of Boston Scientific by 40.0% in the 4th quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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