Boston Scientific (NYSE:BSX) Updates Q4 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.64-$0.66 for the period, compared to the consensus earnings per share estimate of $0.64. The company issued revenue guidance of $4.34-$4.41 billion, compared to the consensus revenue estimate of $4.28 billion. Boston Scientific also updated its FY 2024 guidance to 2.450-2.470 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus boosted 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. TD Cowen boosted their price objective on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Citigroup boosted their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. BTIG Research boosted their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Raymond James lifted their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $93.09.

Boston Scientific Trading Down 2.1 %

BSX stock traded down $1.86 during midday trading on Thursday, hitting $85.59. The company had a trading volume of 4,585,311 shares, compared to its average volume of 6,014,674. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.79. The stock’s 50 day moving average price is $83.19 and its 200 day moving average price is $77.57. The stock has a market cap of $125.57 billion, a price-to-earnings ratio of 72.02, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is currently owned by 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.