Boston Scientific (NYSE:BSX) Issues Earnings Results, Beats Estimates By $0.04 EPS

Boston Scientific (NYSE:BSX) announced its quarterly earnings results on Wednesday. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04, Briefing.com reports. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 earnings per share.

Boston Scientific Stock Performance

NYSE BSX opened at $74.95 on Friday. The business’s 50-day moving average price is $76.49 and its 200 day moving average price is $70.32. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43. The company has a market capitalization of $109.96 billion, a PE ratio of 62.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,441 shares of company stock worth $4,624,453. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

BSX has been the subject of several research analyst reports. Needham & Company LLC increased their price objective on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup upped their target price on Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday. Barclays upped their target price on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.76.

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.