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 2.290-2.340 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.6 billion. Boston Scientific also updated its FY24 guidance to $2.29-2.34 EPS.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BSX. BTIG Research reissued a buy rating and issued a $64.00 target price on shares of Boston Scientific in a report on Friday, December 29th. Argus raised their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Needham & Company LLC upped their price objective on Boston Scientific from $71.00 to $82.00 and gave the company a buy rating in a research note on Wednesday. TD Cowen lifted their target price on Boston Scientific from $65.00 to $77.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Finally, Robert W. Baird upped their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of Moderate Buy and an average target price of $75.09.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.18 during trading hours on Friday, reaching $73.44. 4,914,666 shares of the company’s stock were exchanged, compared to its average volume of 6,536,134. The company’s 50 day moving average is $67.68 and its two-hundred day moving average is $60.37. The company has a market cap of $107.74 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the previous year, the firm earned $0.45 EPS. Equities research analysts anticipate that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 in the last ninety days. 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.