$2.34 Billion in Sales Expected for Boston Scientific Co. (BSX) This Quarter

Equities research analysts expect Boston Scientific Co. (NYSE:BSX) to post $2.34 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Boston Scientific’s earnings. The highest sales estimate is $2.36 billion and the lowest is $2.32 billion. Boston Scientific reported sales of $2.16 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The company is scheduled to announce its next earnings results before the market opens on Wednesday, April 25th.

According to Zacks, analysts expect that Boston Scientific will report full year sales of $2.34 billion for the current financial year, with estimates ranging from $9.70 billion to $9.80 billion. For the next fiscal year, analysts expect that the business will report sales of $10.32 billion per share, with estimates ranging from $9.90 billion to $10.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts 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 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Boston Scientific had a net margin of 1.15% and a return on equity of 24.27%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share.

BSX has been the topic of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating and set a $32.00 price target on shares of Boston Scientific in a research note on Tuesday, December 12th. Evercore ISI initiated coverage on shares of Boston Scientific in a research note on Wednesday, January 3rd. They set an “in-line” rating and a $27.00 price target on the stock. Royal Bank of Canada upgraded shares of Boston Scientific from an “outperform” rating to a “top pick” rating in a research note on Friday, January 5th. Zacks Investment Research downgraded Boston Scientific from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, Barclays reissued a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $31.45.

In other news, SVP David A. Pierce sold 5,152 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $27.00, for a total value of $139,104.00. Following the completion of the sale, the senior vice president now directly owns 38,116 shares of the company’s stock, valued at $1,029,132. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $27.22, for a total value of $136,100.00. The disclosure for this sale can be found here. Insiders sold 252,818 shares of company stock valued at $6,879,888 over the last ninety days. 0.73% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in shares of Boston Scientific by 3.0% in the third quarter. Brown Advisory Inc. now owns 60,451 shares of the medical equipment provider’s stock valued at $1,763,000 after acquiring an additional 1,771 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Boston Scientific by 3.7% in the third quarter. Moors & Cabot Inc. now owns 49,975 shares of the medical equipment provider’s stock valued at $1,468,000 after acquiring an additional 1,800 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Boston Scientific by 5.5% in the third quarter. IFM Investors Pty Ltd now owns 39,091 shares of the medical equipment provider’s stock valued at $1,140,000 after acquiring an additional 2,038 shares during the period. Bessemer Group Inc. raised its stake in shares of Boston Scientific by 28.9% during the fourth quarter. Bessemer Group Inc. now owns 10,288 shares of the medical equipment provider’s stock worth $255,000 after purchasing an additional 2,305 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Boston Scientific by 6.3% during the fourth quarter. LS Investment Advisors LLC now owns 43,176 shares of the medical equipment provider’s stock worth $1,070,000 after purchasing an additional 2,555 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

NYSE:BSX traded up $0.16 on Wednesday, reaching $27.51. 4,867,147 shares of the company’s stock were exchanged, compared to its average volume of 8,127,738. 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 firm has a market capitalization of $37,603.82, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.81. Boston Scientific has a 52-week low of $24.31 and a 52-week high of $29.93.

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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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