Boston Scientific (NYSE:BSX) Issues FY 2021 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its FY 2021 earnings guidance on Wednesday. The company provided EPS guidance of $1.580-$1.620 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.610. The company issued revenue guidance of $12 billion-$12 billion, compared to the consensus revenue estimate of $12.01 billion.

Several brokerages have recently issued reports on BSX. TheStreet cut shares of Boston Scientific from a b rating to a c+ rating in a report on Tuesday, July 27th. Zacks Investment Research cut shares of Boston Scientific from a buy rating to a hold rating and set a $48.00 target price for the company. in a report on Monday, August 2nd. Needham & Company LLC set a $42.74 target price on shares of Boston Scientific and gave the company a hold rating in a report on Thursday, July 15th. Morgan Stanley reiterated a buy rating and set a $53.00 price target on shares of Boston Scientific in a research note on Tuesday, September 21st. Finally, Credit Suisse Group increased their price target on shares of Boston Scientific from $50.00 to $52.00 and gave the stock an outperform rating in a research note on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and an average target price of $48.65.

Shares of BSX stock traded up $0.66 during mid-day trading on Thursday, hitting $42.45. The stock had a trading volume of 15,216 shares, compared to its average volume of 7,667,059. Boston Scientific has a fifty-two week low of $32.99 and a fifty-two week high of $46.28. The firm has a market cap of $60.44 billion, a PE ratio of 126.64, a PEG ratio of 2.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.31. The company’s 50-day simple moving average is $44.17 and its 200-day simple moving average is $43.02.

Boston Scientific (NYSE:BSX) last released its earnings results on Monday, July 26th. The medical equipment provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Boston Scientific had a net margin of 4.56% and a return on equity of 12.67%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business earned $0.08 EPS. The business’s revenue was up 53.6% on a year-over-year basis. On average, analysts expect that Boston Scientific will post 1.61 EPS for the current year.

In other news, SVP Meghan Scanlon sold 13,850 shares of the stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $45.01, for a total value of $623,388.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 201,042 shares of the firm’s stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $42.92, for a total transaction of $8,628,722.64. The disclosure for this sale can be found here. Insiders sold a total of 579,261 shares of company stock valued at $25,513,808 in the last 90 days. Company insiders own 0.71% of the company’s stock.

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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