Boston Scientific (NYSE:BSX – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.290-2.340 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.6 billion. Boston Scientific also updated its FY24 guidance to $2.29-2.34 EPS.
Boston Scientific Trading Up 5.7 %
Shares of BSX stock traded up $3.92 during mid-day trading on Wednesday, reaching $72.91. The stock had a trading volume of 14,206,418 shares, compared to its average volume of 6,540,234. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $67.39 and its two-hundred day moving average price is $60.19. The firm has a market capitalization of $106.97 billion, a PE ratio of 68.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39.
Boston Scientific (NYSE:BSX – Get Free Report) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.45 EPS. Equities analysts expect that Boston Scientific will post 2.25 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
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Insider Activity at Boston Scientific
In other news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $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 valued at $3,418,529. 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.
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