$2.64 Billion in Sales Expected for Boston Scientific Co. (BSX) This Quarter

Equities research analysts predict that Boston Scientific Co. (NYSE:BSX) will post $2.64 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Boston Scientific’s earnings, with estimates ranging from $2.63 billion to $2.65 billion. Boston Scientific posted sales of $2.49 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The business is expected to issue its next earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Boston Scientific will report full-year sales of $10.55 billion for the current financial year, with estimates ranging from $10.50 billion to $10.67 billion. For the next fiscal year, analysts expect that the business will post sales of $11.40 billion, with estimates ranging from $11.25 billion to $11.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Boston Scientific.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Boston Scientific had a return on equity of 24.65% and a net margin of 18.08%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS.

Several research firms recently commented on BSX. BTIG Research reiterated a “buy” rating on shares of Boston Scientific in a research report on Thursday, April 25th. Canaccord Genuity dropped their price target on Boston Scientific from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Argus raised their price objective on shares of Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research note 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 note on Friday, February 8th. Finally, Guggenheim reissued a “buy” rating and issued a $48.00 price objective on shares of Boston Scientific in a research note on Friday, February 8th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $41.77.

In other news, EVP David A. Pierce sold 1,357 shares of Boston Scientific stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $40.25, for a total transaction of $54,619.25. Following the completion of the sale, the executive vice president now owns 38,940 shares of the company’s stock, valued at $1,567,335. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 44,236 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $40.00, for a total transaction of $1,769,440.00. Following the sale, the executive vice president now directly owns 242,176 shares of the company’s stock, valued at approximately $9,687,040. The disclosure for this sale can be found here. In the last three months, insiders sold 342,352 shares of company stock valued at $13,696,184. 0.66% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. West Oak Capital LLC raised its stake in shares of Boston Scientific by 40.0% during the fourth quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Quad Cities Investment Group LLC raised its stake in shares of Boston Scientific by 9.6% during the fourth quarter. Quad Cities Investment Group LLC now owns 3,424 shares of the medical equipment provider’s stock valued at $123,000 after acquiring an additional 300 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Boston Scientific by 4.3% during the fourth quarter. Scotia Capital Inc. now owns 7,240 shares of the medical equipment provider’s stock valued at $256,000 after acquiring an additional 300 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Boston Scientific by 4.8% during the fourth quarter. Quadrant Capital Group LLC now owns 6,532 shares of the medical equipment provider’s stock valued at $215,000 after acquiring an additional 302 shares in the last quarter. Finally, Kalos Management Inc. raised its stake in shares of Boston Scientific by 1.0% during the fourth quarter. Kalos Management Inc. now owns 31,123 shares of the medical equipment provider’s stock valued at $1,099,000 after acquiring an additional 315 shares in the last quarter. 91.61% of the stock is owned by hedge funds and other institutional investors.

BSX opened at $37.37 on Tuesday. The stock has a market capitalization of $51.73 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.20 and a beta of 0.83. Boston Scientific has a 12 month low of $29.42 and a 12 month high of $41.00. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

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.

Featured Story: FAANG Stocks

Get a free copy of the Zacks research report on Boston Scientific (BSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Boston Scientific (NYSE:BSX)

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.