Boston Scientific (NYSE:BSX) Issues Q3 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.57 to $0.59 for the period, compared to the consensus EPS estimate of $0.57. The company issued revenue guidance of +13 to +15% yr/yr or $3.986 billion to $4.056 billion, compared to the consensus revenue estimate of $3.96 billion. Boston Scientific also updated its FY 2024 guidance to 2.380-2.420 EPS.

Boston Scientific Price Performance

Shares of BSX stock traded down $1.02 during midday trading on Wednesday, reaching $77.57. 12,016,287 shares of the company traded hands, compared to its average volume of 6,227,726. The firm’s 50 day simple moving average is $76.42 and its two-hundred day simple moving average is $70.12. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $79.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The firm has a market cap of $113.80 billion, a PE ratio of 65.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. On average, equities research analysts expect that Boston Scientific will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. Raymond James lifted their price target on shares of Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a research report on Thursday, April 25th. Robert W. Baird lifted their price objective on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Mizuho lifted their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. StockNews.com upgraded Boston Scientific from a hold rating to a buy rating in a research report on Wednesday. Finally, The Goldman Sachs Group started coverage on Boston Scientific in a research report on Thursday, May 30th. They set a buy rating and a $90.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $82.29.

Insider Activity

In other news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders sold 72,259 shares of company stock valued at $5,344,014 in the last ninety days. Company insiders own 0.50% 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 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.