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

Boston Scientific (NYSE:BSX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.290-2.340 for the period, compared to the consensus earnings per share estimate of 2.250. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.6 billion. Boston Scientific also updated its FY24 guidance to $2.29-2.34 EPS.

Analysts Set New Price Targets

A number of brokerages have weighed in on BSX. BTIG Research reaffirmed a buy rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Wells Fargo & Company lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Barclays boosted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an overweight rating in a research report on Friday. Finally, Evercore ISI boosted their price target on Boston Scientific from $72.00 to $78.00 and gave the stock an outperform rating in a research report on Thursday. Three 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. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Stock Performance

Boston Scientific stock traded up $0.18 during trading hours on Friday, hitting $73.44. 4,914,666 shares of the stock traded hands, compared to its average volume of 6,536,134. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm’s 50 day moving average price is $67.68 and its 200-day moving average price is $60.37. The stock has a market capitalization of $107.74 billion, a price-to-earnings ratio of 61.61, a P/E/G ratio of 2.48 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39.

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, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, equities analysts expect that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by insiders.

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.