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

Boston Scientific (NYSE:BSX) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.570-0.590 for the period, compared to the consensus EPS 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 Upgrades and Downgrades

A number of equities analysts have weighed in on BSX shares. Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $63.00 to $73.00 and gave the stock a hold rating in a research note on Thursday. Robert W. Baird increased their price objective on Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a research report on Thursday. Citigroup boosted their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, Raymond James raised their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of Moderate Buy and an average price target of $74.00.

Boston Scientific Trading Up 0.5 %

Shares of Boston Scientific stock traded up $0.34 during trading hours on Thursday, reaching $73.25. The stock had a trading volume of 3,370,091 shares, compared to its average volume of 6,497,581. The firm has a market capitalization of $107.47 billion, a price-to-earnings ratio of 68.46, a P/E/G ratio of 2.42 and a beta of 0.78. The firm has a 50 day simple moving average of $67.53 and a two-hundred day simple moving average of $60.28. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $74.39.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.45 EPS. As a group, equities research analysts anticipate that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction on Tuesday, February 13th. The shares were 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 of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were 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 owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock worth $3,418,529 in the last 90 days. 0.50% of the stock is owned by company 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.