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

Boston Scientific (NYSE:BSX) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.450-2.470 for the period, compared to the consensus estimate of 2.410. The company issued revenue guidance of $16.6 billion-$16.6 billion, compared to the consensus revenue estimate of $16.3 billion. Boston Scientific also updated its Q4 2024 guidance to 0.640-0.660 EPS.

Boston Scientific Trading Down 0.0 %

Shares of BSX opened at $88.02 on Wednesday. The firm’s fifty day moving average is $82.97 and its two-hundred day moving average is $77.50. 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 stock has a market cap of $129.13 billion, a PE ratio of 73.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52-week low of $49.15 and a 52-week high of $88.79.

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

Analyst Upgrades and Downgrades

BSX has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Friday, October 18th. Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird lifted their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.68.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock worth $26,714,298. 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.