Boston Scientific (NYSE:BSX) Issues 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.

Boston Scientific Stock Performance

BSX traded up $3.92 on Wednesday, reaching $72.91. The company had a trading volume of 14,206,418 shares, compared to its average volume of 6,540,234. The company’s fifty day moving average is $67.39 and its 200 day moving average is $60.19. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The stock has a market cap of $106.97 billion, a P/E ratio of 68.14, a P/E/G ratio of 2.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, analysts predict that Boston Scientific will post 2.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on BSX shares. StockNews.com lowered shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. TD Cowen increased their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. Mizuho upgraded shares of Boston Scientific from a neutral rating to a buy rating and increased their price target for the stock from $65.00 to $80.00 in a research report on Thursday, February 1st. BTIG Research reiterated a buy rating and set a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Finally, Needham & Company LLC increased their price target on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a buy rating in a research report on Wednesday. Two 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 company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $69.00.

Insider Transactions at Boston Scientific

In other 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 transaction of $455,210.00. Following the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were 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 owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

About Boston Scientific

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.