Boston Scientific (NYSE:BSX) Releases FY24 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.29-2.34 for the period, compared to the consensus estimate of $2.26. The company issued revenue guidance of +11-13% to ~$15.8-16.1 billion, compared to the consensus revenue estimate of $15.59 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Needham & Company LLC upped their price target on Boston Scientific from $60.00 to $71.00 and gave the company a buy rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on Boston Scientific from $60.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, February 1st. Evercore ISI upped their price target on Boston Scientific from $68.00 to $72.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Finally, BTIG Research reaffirmed a buy rating and set a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Two equities research 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 stock. According to MarketBeat, Boston Scientific currently has a consensus rating of Moderate Buy and an average price target of $68.50.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $68.99 on Wednesday. The firm has a market capitalization of $101.22 billion, a P/E ratio of 64.48, a P/E/G ratio of 2.38 and a beta of 0.78. 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 stock’s 50-day simple moving average is $67.39 and its two-hundred day simple moving average is $60.19. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $69.21.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.99% and a net margin of 11.19%. During the same period in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that Boston Scientific will post 2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 in the last ninety days. 0.50% of the stock is currently owned by insiders.

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.