Boston Scientific (NYSE:BSX) Releases 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSX. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an overweight rating in a research report on Thursday. Morgan Stanley lifted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an overweight rating in a research report on Monday, July 15th. Canaccord Genuity Group raised their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a buy rating in a research note on Thursday. Mizuho raised their price objective on Boston Scientific from $85.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada restated an outperform rating and set a $85.00 price objective on shares of Boston Scientific in a research note on Thursday. Two 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 stock. According to MarketBeat, Boston Scientific currently has a consensus rating of Moderate Buy and an average price target of $84.76.

Boston Scientific Stock Performance

Shares of BSX opened at $74.95 on Friday. The stock’s 50-day simple moving average is $76.49 and its 200 day simple moving average is $70.32. The stock has a market capitalization of $109.96 billion, a price-to-earnings ratio of 62.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $79.43.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Research analysts forecast that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders have sold a total of 62,441 shares of company stock valued at $4,624,453 in the last 90 days. Corporate 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.