Boston Scientific (NYSE:BSX) Updates Q4 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.64-$0.66 for the period, compared to the consensus EPS 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

Several research firms have weighed in on BSX. BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI boosted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada boosted their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.68.

Boston Scientific Stock Down 2.8 %

Shares of BSX traded down $2.48 during trading hours on Wednesday, reaching $85.53. The company’s stock had a trading volume of 9,945,550 shares, compared to its average volume of 5,974,458. The firm has a market cap of $125.48 billion, a price-to-earnings ratio of 70.24, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a 1-year low of $49.15 and a 1-year high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $82.97 and a two-hundred day moving average of $77.50.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, research analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $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 90 days. Company 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.