Boston Scientific (NYSE:BSX) Releases Q4 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.640-0.660 for the period, compared to the consensus EPS estimate of 0.640. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.3 billion. Boston Scientific also updated its FY 2024 guidance to 2.450-2.470 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Needham & Company LLC downgraded Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Friday, October 18th. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised their price objective on shares of Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.68.

Boston Scientific Stock Performance

Shares of BSX stock traded down $2.72 during trading on Wednesday, reaching $85.29. The company had a trading volume of 8,732,845 shares, compared to its average volume of 5,963,789. The company has a market capitalization of $125.13 billion, a PE ratio of 70.24, a PEG ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $82.97 and its two-hundred day simple moving average is $77.50. Boston Scientific has a one year low of $49.15 and a one year high of $88.79.

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

Insider Activity

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