Analysts expect Boston Scientific Co. (NYSE:BSX) to report earnings per share of $0.38 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Boston Scientific’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.38. Boston Scientific reported earnings of $0.35 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The business is expected to announce its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Boston Scientific will report full year earnings of $1.56 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.57. For the next financial year, analysts forecast that the firm will report earnings of $1.78 per share, with EPS estimates ranging from $1.73 to $1.87. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Boston Scientific.
Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. Boston Scientific’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS.
BSX has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, June 27th. Raymond James raised their price objective on shares of Boston Scientific from $48.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Evercore ISI upgraded shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 price objective for the company in a research note on Monday, May 13th. Wells Fargo & Co raised their price target on shares of Boston Scientific from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Finally, BTIG Research set a $46.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.91.
In related news, SVP Xin Warren Wang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $38.45, for a total value of $384,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jodi Euerle Eddy sold 7,803 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $38.42, for a total transaction of $299,791.26. Following the completion of the transaction, the senior vice president now directly owns 88,978 shares in the company, valued at approximately $3,418,534.76. The disclosure for this sale can be found here. In the last three months, insiders sold 55,327 shares of company stock worth $2,253,566. 0.66% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of BSX. Investors Research Corp lifted its holdings in Boston Scientific by 333.3% during the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 500 shares in the last quarter. Next Capital Management LLC purchased a new position in Boston Scientific during the second quarter valued at approximately $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Boston Scientific by 60.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Essex Savings Bank purchased a new position in Boston Scientific during the first quarter valued at approximately $31,000. Finally, Westside Investment Management Inc. purchased a new position in Boston Scientific during the second quarter valued at approximately $31,000. 90.69% of the stock is currently owned by institutional investors.
NYSE:BSX traded up $0.14 on Friday, reaching $42.75. 5,341,256 shares of the stock traded hands, compared to its average volume of 5,998,739. The firm has a market capitalization of $59.35 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. The company has a quick ratio of 1.12, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific has a 12 month low of $31.56 and a 12 month high of $43.66. The stock’s fifty day moving average is $42.20.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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