Boston Scientific (NYSE:BSX) Issues Q2 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.570-0.590 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Analyst Ratings Changes

Several brokerages have recently weighed in on BSX. Oppenheimer upped their target price on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a research report on Thursday, February 1st. Mizuho raised Boston Scientific from a neutral rating to a buy rating and upped their target price for the stock from $65.00 to $80.00 in a research report on Thursday, February 1st. BTIG Research reiterated a buy rating and issued a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Argus boosted their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, TD Cowen boosted their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $69.00.

Boston Scientific Price Performance

NYSE BSX traded up $3.92 on Wednesday, reaching $72.91. 14,206,418 shares of the stock traded hands, compared to its average volume of 6,540,234. The company has a market cap of $106.97 billion, a price-to-earnings ratio of 68.14, a P/E/G ratio of 2.38 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $67.39 and its 200 day simple moving average is $60.19. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $74.39.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 15.99% and a net margin of 11.19%. During the same period last year, the company posted $0.45 EPS. As a group, research analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction 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 of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

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.