Boston Scientific (NYSE:BSX) Updates Q2 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.57-0.59 for the period, compared to the consensus earnings per share estimate of $0.56. The company issued revenue guidance of +10.5-12.5% yr/yr to ~$3.98-4.05 billion, compared to the consensus revenue estimate of $3.93 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Analyst Ratings Changes

Several research analysts recently commented on the company. Mizuho raised Boston Scientific from a neutral rating to a buy rating and boosted their target price for the stock from $65.00 to $80.00 in a research note on Thursday, February 1st. Evercore ISI upped their price objective on Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price objective on Boston Scientific from $70.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Oppenheimer upped their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a market perform rating in a research report on Thursday, February 1st. Finally, StockNews.com cut Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of Moderate Buy and an average target price of $69.00.

Boston Scientific Stock Performance

Shares of BSX stock traded up $3.92 during trading hours on Wednesday, reaching $72.91. 14,206,418 shares of the company’s stock were exchanged, compared to its average volume of 6,540,234. The company has a market cap of $106.97 billion, a P/E ratio of 68.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The company’s 50 day moving average is $67.39 and its two-hundred day moving average is $60.19. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the prior year, the business posted $0.45 EPS. Equities research analysts anticipate that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. 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 stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last three months, insiders sold 50,979 shares of company stock valued at $3,418,529. 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.