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

Boston Scientific (NYSE:BSX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.290-2.340 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.6 billion. Boston Scientific also updated its FY24 guidance to $2.29-2.34 EPS.

Boston Scientific Trading Down 0.1 %

Shares of Boston Scientific stock traded down $0.09 during mid-day trading on Friday, hitting $73.17. The stock had a trading volume of 8,786,294 shares, compared to its average volume of 6,225,924. The firm has a 50-day moving average of $67.82 and a two-hundred day moving average of $60.51. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The firm has a market cap of $107.35 billion, a P/E ratio of 61.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same quarter in the previous year, the business posted $0.45 EPS. Sell-side analysts forecast that Boston Scientific will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on BSX shares. Robert W. Baird increased their price target on Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an overweight rating in a report on Thursday. StockNews.com downgraded Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Raymond James boosted their price target on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a report on Thursday. Finally, Barclays upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an overweight rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $75.09.

Insider Activity

In related news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 over the last quarter. Insiders own 0.50% of the company’s stock.

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.