Boston Scientific (NYSE:BSX) Issues Earnings Results

Boston Scientific (NYSE:BSX) announced its earnings results on Wednesday. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the firm posted $0.50 EPS. The business’s revenue was up 19.3% compared to the same quarter last year.

Boston Scientific Trading Down 1.6 %

Shares of NYSE:BSX traded down $1.35 during trading on Friday, reaching $83.75. 657,858 shares of the company were exchanged, compared to its average volume of 6,019,053. 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 has a market capitalization of $122.87 billion, a PE ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. The business’s fifty day simple moving average is $83.19 and its 200-day simple moving average is $77.57. Boston Scientific has a 12-month low of $49.15 and a 12-month high of $88.79.

Insider Buying and Selling

In other 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 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 approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup boosted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.