Boston Scientific (NYSE:BSX) Releases Q4 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.640-0.660 for the period, compared to the consensus estimate of 0.640. The company issued revenue guidance of $4.3 billion-$4.4 billion, compared to the consensus revenue estimate of $4.3 billion. Boston Scientific also updated its FY 2024 guidance to 2.450-2.470 EPS.

Boston Scientific Stock Down 1.8 %

Shares of Boston Scientific stock traded down $1.59 during trading hours on Thursday, reaching $85.86. The company’s stock had a trading volume of 4,002,365 shares, compared to its average volume of 6,011,844. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific has a one year low of $49.15 and a one year high of $88.79. The company has a market capitalization of $125.96 billion, a P/E ratio of 72.02, a P/E/G ratio of 2.87 and a beta of 0.80. The stock’s fifty day simple moving average is $83.19 and its two-hundred day simple moving average is $77.57.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, research analysts forecast that Boston Scientific will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BSX. Bank of America increased their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Thursday. Finally, Stifel Nicolaus upped their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Four 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’s stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.09.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock valued at $26,714,298 in the last quarter. 0.50% of the stock is currently owned by corporate 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.