Boston Scientific (BSX) Set to Announce Quarterly Earnings on Wednesday

Boston Scientific (NYSE:BSX) will post its earnings results before the market opens on Wednesday, April 24th. Analysts expect Boston Scientific to post earnings of $0.51 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

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, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the firm earned $0.45 EPS. On average, analysts expect Boston Scientific to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Boston Scientific Trading Down 0.1 %

BSX opened at $67.33 on Monday. The firm has a market cap of $98.78 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 2.36 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $67.25 and a 200-day moving average price of $59.96. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $69.21.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred 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 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. In the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new position in Boston Scientific during the second quarter worth about $34,000. Sunbelt Securities Inc. purchased a new stake in Boston Scientific during the first quarter worth about $32,000. LM Advisors LLC acquired a new stake in Boston Scientific during the 4th quarter worth approximately $40,000. Evermay Wealth Management LLC boosted its holdings in Boston Scientific by 111.9% in the first quarter. Evermay Wealth Management LLC now owns 763 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 403 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Boston Scientific in the 1st quarter valued at about $35,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BSX shares. Evercore ISI lifted their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Citigroup raised their price objective on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen upped their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

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.