Boston Scientific (NYSE:BSX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Boston Scientific (NYSE:BSX) announced its quarterly earnings data on Wednesday. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04, Briefing.com reports. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.37 during trading on Friday, hitting $84.73. The company had a trading volume of 6,297,105 shares, compared to its average volume of 6,046,294. The stock has a 50 day simple moving average of $83.47 and a 200 day simple moving average of $77.74. The firm has a market capitalization of $124.31 billion, a P/E ratio of 71.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific has a 12 month low of $49.15 and a 12 month high of $88.79.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BSX shares. Royal Bank of Canada lifted their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a report on Monday, October 21st. BTIG Research raised their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup upped their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock worth $26,714,298. 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.