Boston Scientific (NYSE:BSX) Issues Q2 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.57-0.59 for the period, compared to the consensus EPS estimate of $0.56. The company issued revenue guidance of +10.5-12.5% yr/yr to ~$3.98-4.05 billion, compared to the consensus revenue estimate of $3.93 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Analyst Ratings Changes

A number of brokerages recently issued reports on BSX. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the company an outperform rating in a research report on Monday, April 15th. Needham & Company LLC increased their target price on shares of Boston Scientific from $60.00 to $71.00 and gave the company a buy rating in a research report on Thursday, February 1st. Citigroup increased their target price on shares of Boston Scientific from $71.00 to $79.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Finally, Argus increased their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $68.50.

Boston Scientific Price Performance

BSX stock opened at $68.99 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a one year low of $48.35 and a one year high of $69.21. The firm has a market capitalization of $101.22 billion, a PE ratio of 64.48, a P/E/G ratio of 2.38 and a beta of 0.78. The firm has a 50-day moving average of $67.39 and a two-hundred day moving average of $60.19.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, analysts forecast that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last three months. 0.50% of the stock is owned by corporate insiders.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.