Boston Scientific Corporation to Post FY2019 Earnings of $1.49 Per Share, Jefferies Group Forecasts (BSX)

Boston Scientific Corporation (NYSE:BSX) – Jefferies Group cut their FY2019 earnings estimates for Boston Scientific in a research report issued on Wednesday. Jefferies Group analyst R. Denhoy now forecasts that the medical equipment provider will post earnings of $1.49 per share for the year, down from their prior forecast of $1.51. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Boston Scientific’s FY2020 earnings at $1.63 EPS.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets restated a “buy” rating and issued a $30.00 price target on shares of Boston Scientific in a research report on Friday, October 13th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Boston Scientific in a research report on Tuesday, October 3rd. SunTrust Banks restated a “buy” rating and issued a $34.00 price target on shares of Boston Scientific in a research report on Monday, October 2nd. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target on shares of Boston Scientific in a research report on Monday, September 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $31.00 price target on shares of Boston Scientific in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $30.61.

Shares of Boston Scientific (NYSE:BSX) traded down $0.13 during midday trading on Monday, hitting $26.15. The company had a trading volume of 16,183,100 shares, compared to its average volume of 6,852,641. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Boston Scientific has a 52 week low of $20.03 and a 52 week high of $29.93. The company has a market capitalization of $35,909.07, a PE ratio of 21.43, a P/E/G ratio of 2.02 and a beta of 0.96.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS.

Several institutional investors have recently bought and sold shares of the stock. Comerica Securities Inc. lifted its stake in shares of Boston Scientific by 0.9% in the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock worth $318,000 after acquiring an additional 99 shares during the period. ETRADE Capital Management LLC lifted its stake in shares of Boston Scientific by 1.7% in the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 171 shares during the period. Krilogy Financial LLC lifted its stake in shares of Boston Scientific by 5.9% in the second quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock worth $213,000 after acquiring an additional 430 shares during the period. Wetherby Asset Management Inc. lifted its stake in shares of Boston Scientific by 3.9% in the second quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock worth $382,000 after acquiring an additional 523 shares during the period. Finally, Greenwood Capital Associates LLC lifted its stake in shares of Boston Scientific by 1.1% in the second quarter. Greenwood Capital Associates LLC now owns 53,330 shares of the medical equipment provider’s stock worth $1,478,000 after acquiring an additional 564 shares during the period. 90.57% of the stock is currently owned by institutional investors.

In other news, insider Valley Gold Master Fund L. Sun purchased 408,006 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were purchased at an average cost of $0.45 per share, with a total value of $183,602.70. Also, EVP Michael P. Phalen sold 15,500 shares of Boston Scientific stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $28.72, for a total value of $445,160.00. The disclosure for this sale can be found here. Insiders have sold 414,698 shares of company stock worth $12,013,153 over the last three months. Insiders own 0.74% of the company’s stock.

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About Boston Scientific

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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