Boston Scientific (NYSE:BSX) Releases Q2 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.570-0.590 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Citigroup lifted their price objective on Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. StockNews.com lowered Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Needham & Company LLC lifted their price objective on Boston Scientific from $60.00 to $71.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Finally, Raymond James lifted their price objective on Boston Scientific from $67.00 to $73.00 and gave the stock a strong-buy rating in a research report on Thursday, February 1st. Two equities research 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 stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $68.50.

Boston Scientific Stock Up 7.0 %

Shares of BSX stock traded up $4.82 during mid-day trading on Wednesday, hitting $73.81. The company’s stock had a trading volume of 2,555,154 shares, compared to its average volume of 6,375,968. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $74.39. The business has a 50-day moving average price of $67.39 and a 200 day moving average price of $60.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market cap of $108.29 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. Research analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 over the last 90 days. Company insiders own 0.50% of the company’s stock.

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.