Brokerages Anticipate Boston Scientific Co. (BSX) Will Post Earnings of $0.31 Per Share

Brokerages expect Boston Scientific Co. (NYSE:BSX) to announce earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Boston Scientific’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.33. Boston Scientific reported earnings per share of $0.29 in the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The business is expected to announce its next earnings report before the market opens on Wednesday, April 25th.

On average, analysts expect that Boston Scientific will report full-year earnings of $1.37 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.39. For the next fiscal year, analysts expect that the firm will post earnings of $1.54 per share, with EPS estimates ranging from $1.52 to $1.57. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Boston Scientific.

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Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Boston Scientific had a net margin of 1.15% and a return on equity of 24.27%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the company earned $0.30 EPS. Boston Scientific’s revenue was up 9.9% on a year-over-year basis.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Boston Scientific from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, March 19th. Piper Jaffray assumed coverage on shares of Boston Scientific in a report on Friday, February 23rd. They set an “overweight” rating and a $31.00 price objective for the company. BMO Capital Markets restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a report on Tuesday, December 12th. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a report on Tuesday, January 16th. Finally, TheStreet cut shares of Boston Scientific from a “b” rating to a “c” rating in a report on Monday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Boston Scientific has an average rating of “Buy” and a consensus price target of $31.45.

In other news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $27.22, for a total value of $136,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John Bradley Sorenson sold 1,950 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $27.43, for a total transaction of $53,488.50. The disclosure for this sale can be found here. Insiders sold 252,818 shares of company stock valued at $6,879,888 in the last quarter. Corporate insiders own 0.74% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Truewealth LLC bought a new stake in Boston Scientific during the fourth quarter worth $116,000. Icon Wealth Partners LLC bought a new stake in Boston Scientific during the fourth quarter worth $117,000. Cerebellum GP LLC bought a new stake in Boston Scientific during the fourth quarter worth $126,000. Delpha Capital Management LLC bought a new stake in Boston Scientific during the fourth quarter worth $135,000. Finally, Valeo Financial Advisors LLC bought a new stake in Boston Scientific during the third quarter worth $138,000. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:BSX traded down $0.74 during trading on Monday, hitting $27.35. 6,442,553 shares of the company’s stock were exchanged, compared to its average volume of 6,659,507. Boston Scientific has a 1-year low of $24.31 and a 1-year high of $29.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.49. The stock has a market cap of $38,621.25, a price-to-earnings ratio of 21.71, a P/E/G ratio of 2.03 and a beta of 0.81.

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Boston Scientific Company Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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