Analysts expect Boston Scientific Co. (NYSE:BSX) to announce $2.40 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Boston Scientific’s earnings, with estimates ranging from $2.40 billion to $2.42 billion. Boston Scientific reported sales of $2.22 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Boston Scientific will report full-year sales of $9.85 billion for the current financial year, with estimates ranging from $9.83 billion to $9.88 billion. For the next fiscal year, analysts forecast that the business will report sales of $10.56 billion per share, with estimates ranging from $10.44 billion to $10.69 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Boston Scientific.
Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.07. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis.
Several equities research analysts have weighed in on BSX shares. Zacks Investment Research raised Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Friday, May 11th. TheStreet raised Boston Scientific from a “c” rating to an “a-” rating in a research report on Tuesday, May 29th. ValuEngine lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Argus increased their target price on Boston Scientific from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, June 7th. Finally, Sanford C. Bernstein assumed coverage on Boston Scientific in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $38.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $35.86.
Shares of NYSE BSX opened at $35.99 on Friday. Boston Scientific has a 1-year low of $24.54 and a 1-year high of $37.30. The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $49.44 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.49 and a beta of 0.63.
In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $36.02, for a total value of $180,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kevin J. Ballinger sold 68,486 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $34.12, for a total value of $2,336,742.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,393 shares of company stock worth $4,619,864. 0.73% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rampart Investment Management Company LLC grew its holdings in Boston Scientific by 230.9% in the 1st quarter. Rampart Investment Management Company LLC now owns 55,820 shares of the medical equipment provider’s stock valued at $1,525,000 after buying an additional 38,950 shares during the last quarter. Sei Investments Co. grew its holdings in Boston Scientific by 7.8% in the 2nd quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after buying an additional 278,777 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Boston Scientific by 63.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after buying an additional 124,350 shares during the last quarter. Tdam USA Inc. acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $3,758,000. Finally, Harvest Management LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $370,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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