Boston Scientific (NYSE:BSX) Announces Earnings Results

Boston Scientific (NYSE:BSX) posted its quarterly earnings data on Wednesday. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04, Briefing.com reports. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis.

Boston Scientific Stock Performance

Shares of Boston Scientific stock traded up $0.87 on Friday, reaching $75.13. 4,375,414 shares of the company traded hands, compared to its average volume of 6,272,560. 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 capitalization of $110.22 billion, a PE ratio of 62.40, a PEG ratio of 2.64 and a beta of 0.78. The company has a 50 day moving average of $76.48 and a 200 day moving average of $70.20. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $79.43.

Analyst Ratings Changes

Several research firms have recently weighed in on BSX. Argus lifted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. BTIG Research raised their target price on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group raised their price objective on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Barclays upped their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.76.

Insider Buying and Selling at Boston Scientific

In related news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $74.14, for a total transaction of $958,704.34. Following the sale, the executive vice president now owns 31,422 shares of the company’s stock, valued at approximately $2,329,627.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,441 shares of company stock valued at $4,624,453. 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.