Boston Scientific (NYSE:BSX) Issues FY 2024 Earnings Guidance

by · The Cerbat Gem

Boston Scientific (NYSE:BSX – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.450-2.470 for the period, compared to the consensus EPS estimate of 2.410. The company issued revenue guidance of $16.6 billion-$16.6 billion, compared to the consensus revenue estimate of $16.3 billion. Boston Scientific also updated its Q4 guidance to $0.64-$0.66 EPS.

Boston Scientific Stock Performance

Shares of BSX traded down $0.17 on Friday, reaching $84.93. 1,829,340 shares of the company’s stock traded hands, compared to its average volume of 6,024,712. The stock’s 50 day simple moving average is $83.19 and its two-hundred day simple moving average is $77.57. The stock has a market cap of $124.60 billion, a PE ratio of 71.52, a PEG ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52-week low of $49.15 and a 52-week high of $88.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.50 EPS. On average, analysts forecast that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BSX. Mizuho upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James raised their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a report on Monday. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Check Out Our Latest Research Report on BSX

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by insiders.

Boston Scientific Company Profile

(Get Free Report)

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.

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