Brokerages Anticipate Boston Scientific Co. (NYSE:BSX) Will Post Quarterly Sales of $2.94 Billion

Analysts expect that Boston Scientific Co. (NYSE:BSX) will post $2.94 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Boston Scientific’s earnings, with the lowest sales estimate coming in at $2.90 billion and the highest estimate coming in at $2.97 billion. Boston Scientific posted sales of $2.00 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 47%. The business is scheduled to issue its next earnings report on Wednesday, August 4th.

On average, analysts expect that Boston Scientific will report full-year sales of $11.73 billion for the current financial year, with estimates ranging from $11.56 billion to $11.84 billion. For the next financial year, analysts forecast that the company will report sales of $12.65 billion, with estimates ranging from $12.43 billion to $12.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Boston Scientific.

Boston Scientific (NYSE:BSX) last released its earnings results on Tuesday, April 27th. The medical equipment provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.06. Boston Scientific had a net margin of 1.69% and a return on equity of 9.80%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter last year, the business earned $0.28 EPS. The business’s revenue was up 8.2% on a year-over-year basis.

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boston Scientific from $39.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, April 29th. Zacks Investment Research downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Thursday, May 13th. Wells Fargo & Company raised their target price on shares of Boston Scientific from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. TheStreet upgraded shares of Boston Scientific from a “c” rating to a “b” rating in a report on Tuesday, June 1st. Finally, Morgan Stanley raised their target price on shares of Boston Scientific from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $46.75.

In other news, EVP David A. Pierce sold 1,654 shares of the business’s stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $41.36, for a total transaction of $68,409.44. Following the transaction, the executive vice president now directly owns 2,057 shares of the company’s stock, valued at $85,077.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey B. Mirviss sold 48,439 shares of the business’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $43.98, for a total transaction of $2,130,347.22. Following the transaction, the executive vice president now directly owns 187,597 shares in the company, valued at $8,250,516.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,009 shares of company stock worth $9,309,362. Corporate insiders own 0.71% of the company’s stock.

Several large investors have recently modified their holdings of the stock. KB Financial Partners LLC bought a new stake in shares of Boston Scientific in the first quarter worth $48,000. Advisory Services Network LLC increased its stake in shares of Boston Scientific by 48.2% in the first quarter. Advisory Services Network LLC now owns 10,754 shares of the medical equipment provider’s stock worth $416,000 after buying an additional 3,497 shares during the last quarter. Advisor Partners LLC increased its stake in shares of Boston Scientific by 1.3% in the first quarter. Advisor Partners LLC now owns 37,416 shares of the medical equipment provider’s stock worth $1,446,000 after buying an additional 477 shares during the last quarter. FormulaFolio Investments LLC bought a new stake in shares of Boston Scientific in the first quarter worth $114,000. Finally, Schroder Investment Management Group increased its stake in Boston Scientific by 10.4% during the first quarter. Schroder Investment Management Group now owns 425,673 shares of the medical equipment provider’s stock valued at $16,452,000 after purchasing an additional 40,140 shares during the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.

Shares of NYSE BSX opened at $42.84 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.80 and a quick ratio of 1.38. Boston Scientific has a 52 week low of $32.99 and a 52 week high of $44.63. The company has a 50-day moving average of $41.74. The firm has a market capitalization of $60.87 billion, a PE ratio of 428.40, a price-to-earnings-growth ratio of 2.86 and a beta of 0.88.

Boston Scientific Company Profile

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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