Boston Scientific (NYSE:BSX – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.29-2.34 for the period, compared to the consensus earnings per share estimate of $2.26. The company issued revenue guidance of +11-13% to ~$15.8-16.1 billion, compared to the consensus revenue estimate of $15.59 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.
Boston Scientific Stock Performance
Shares of BSX stock traded up $0.13 during mid-day trading on Friday, reaching $73.39. The stock had a trading volume of 3,847,683 shares, compared to its average volume of 6,525,624. The business’s fifty day moving average is $67.68 and its 200-day moving average is $60.37. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $107.67 billion, a price-to-earnings ratio of 61.61, a PEG 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 – Get Free Report) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period last year, the company earned $0.45 earnings per share. On average, research analysts forecast that Boston Scientific will post 2.32 earnings per share for the current year.
Analyst Ratings Changes
Check Out Our Latest Report on Boston Scientific
Insider Activity at Boston Scientific
In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 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.
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