Boston Scientific (NYSE:BSX) Issues FY 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.450-2.470 for the period, compared to the consensus earnings per share estimate of 2.410. The company issued revenue guidance of $16.6 billion-$16.6 billion, compared to the consensus revenue estimate of $16.3 billion. Boston Scientific also updated its Q4 guidance to $0.64-$0.66 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BSX shares. Mizuho lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group increased their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. 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, July 25th. Finally, Royal Bank of Canada raised their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Trading Down 0.4 %

NYSE BSX opened at $84.73 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.61 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 business has a 50 day moving average price of $83.34 and a 200-day moving average price of $77.62. The company has a market cap of $124.31 billion, a price-to-earnings ratio of 71.20, a P/E/G ratio of 2.87 and a beta of 0.80.

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

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction 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 transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, 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. Insiders have sold 316,253 shares of company stock worth $26,714,298 in the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

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.