Boston Scientific (NYSE:BSX) Releases Q4 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.64-$0.66 for the period, compared to the consensus earnings per share estimate of $0.64. The company issued revenue guidance of $4.34-$4.41 billion, compared to the consensus revenue estimate of $4.28 billion. Boston Scientific also updated its FY 2024 guidance to 2.450-2.470 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSX. Bank of America boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley upped their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Needham & Company LLC downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Friday, October 18th. Four investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $90.68.

Boston Scientific Trading Down 0.0 %

Shares of BSX stock opened at $88.02 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $82.97 and its 200 day simple moving average is $77.50. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79. The firm has a market capitalization of $129.13 billion, a P/E ratio of 73.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by corporate insiders.

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.