Boston Scientific (NYSE:BSX) Issues Q2 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.57-0.59 for the period, compared to the consensus EPS 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.

Boston Scientific Price Performance

Shares of BSX opened at $73.13 on Friday. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The firm’s fifty day simple moving average is $67.82 and its 200-day simple moving average is $60.51. The firm has a market capitalization of $107.29 billion, a price-to-earnings ratio of 61.45, a PEG ratio of 2.52 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period last year, the firm posted $0.45 EPS. Equities analysts forecast that Boston Scientific will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday. Citigroup raised their target price on shares of Boston Scientific from $79.00 to $85.00 and gave the stock a buy rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research note on Thursday. TD Cowen raised their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Finally, UBS Group raised their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a buy rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $75.09.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the completion of the sale, the executive vice president now owns 53,788 shares of the company’s stock, valued at $3,568,833.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by company insiders.

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.