Boston Scientific (NYSE:BSX) Announces Quarterly Earnings Results

Boston Scientific (NYSE:BSX) released its quarterly earnings results on Wednesday. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04, Briefing.com reports. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $3.16 during trading hours on Thursday, hitting $74.60. 6,441,703 shares of the company’s stock were exchanged, compared to its average volume of 6,254,095. The company’s 50-day moving average price is $76.49 and its 200-day moving average price is $70.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The stock has a market capitalization of $109.45 billion, a price-to-earnings ratio of 63.87, a PEG ratio of 2.70 and a beta of 0.78. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $79.43.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays upped their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Canaccord Genuity Group increased their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday. BTIG Research boosted their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, UBS Group boosted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $84.76.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at approximately $3,437,157.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock worth $5,344,014 in the last three months. 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.