Boston Scientific (NYSE:BSX) Updates Q2 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.570-0.590 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Argus boosted their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Citigroup boosted their price objective on Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Evercore ISI boosted their target price on Boston Scientific from $68.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, April 4th. TD Cowen boosted their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Finally, Royal Bank of Canada boosted their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $68.50.

Boston Scientific Trading Up 7.0 %

NYSE:BSX traded up $4.82 during trading hours on Wednesday, reaching $73.81. 2,555,154 shares of the stock were exchanged, compared to its average volume of 6,375,968. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $67.39 and a two-hundred day moving average of $60.19. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39. The company has a market capitalization of $108.29 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, equities analysts predict that Boston Scientific will post 2.25 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of the 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by company insiders.

About Boston Scientific

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.