Brokerages expect Boston Scientific Co. (NYSE:BSX) to announce sales of $2.56 billion for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Boston Scientific’s earnings, with the lowest sales estimate coming in at $2.55 billion and the highest estimate coming in at $2.57 billion. Boston Scientific posted sales of $2.41 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The firm is scheduled to announce its next earnings report on Thursday, February 7th.
According to Zacks, analysts expect that Boston Scientific will report full year sales of $9.83 billion for the current financial year, with estimates ranging from $9.81 billion to $9.88 billion. For the next fiscal year, analysts anticipate that the business will post sales of $10.64 billion, with estimates ranging from $10.53 billion to $10.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boston Scientific.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $0.31 EPS. Boston Scientific’s revenue for the quarter was up 7.7% compared to the same quarter last year.
A number of research firms have commented on BSX. BTIG Research reissued a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a report on Tuesday, October 16th. Oppenheimer set a $38.00 price target on Boston Scientific and gave the company a “hold” rating in a report on Wednesday, October 24th. Canaccord Genuity raised their price target on Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Royal Bank of Canada raised their price target on Boston Scientific to $36.00 and gave the company a “top pick” rating in a report on Monday, July 23rd. Finally, Morgan Stanley raised their price target on Boston Scientific from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $39.00.
In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $36.02, for a total transaction of $180,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Bradley Sorenson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $35.86, for a total value of $358,600.00. Following the transaction, the senior vice president now owns 44,636 shares of the company’s stock, valued at approximately $1,600,646.96. The disclosure for this sale can be found here. Insiders have sold 414,000 shares of company stock valued at $15,347,937 in the last 90 days. Company insiders own 0.73% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Sei Investments Co. raised its stake in shares of Boston Scientific by 7.8% during the second quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after acquiring an additional 278,777 shares in the last quarter. Waddell & Reed Financial Inc. bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $5,559,000. Cubist Systematic Strategies LLC raised its stake in shares of Boston Scientific by 3.1% during the second quarter. Cubist Systematic Strategies LLC now owns 51,105 shares of the medical equipment provider’s stock valued at $1,671,000 after acquiring an additional 1,547 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Boston Scientific by 2.0% during the second quarter. Public Employees Retirement System of Ohio now owns 965,855 shares of the medical equipment provider’s stock valued at $31,583,000 after acquiring an additional 19,383 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Boston Scientific by 63.6% during the second quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after acquiring an additional 124,350 shares in the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.
NYSE:BSX traded up $0.78 on Friday, reaching $37.63. 310,466 shares of the company’s stock traded hands, compared to its average volume of 8,830,114. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.58. The stock has a market cap of $50.94 billion, a PE ratio of 29.87, a P/E/G ratio of 2.42 and a beta of 0.68. Boston Scientific has a 12 month low of $24.54 and a 12 month high of $39.44.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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