Boston Scientific (NYSE:BSX) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.54-1.58 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.56. The company issued revenue guidance of $10.51061-10.60884 billion, compared to the consensus revenue estimate of $10.65 billion.Boston Scientific also updated its FY19 guidance to $1.54-$1.58 EPS.
BSX traded down $0.04 during trading on Friday, reaching $41.97. 114,636 shares of the company’s stock were exchanged, compared to its average volume of 6,282,415. Boston Scientific has a one year low of $31.56 and a one year high of $43.66. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $59.62 billion, a PE ratio of 28.56, a PEG ratio of 2.57 and a beta of 0.80. The stock has a fifty day moving average price of $41.99.
Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.74%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Boston Scientific will post 1.55 earnings per share for the current year.
BSX has been the topic of a number of research reports. Canaccord Genuity reissued a hold rating and set a $19.50 target price on shares of in a report on Thursday, June 27th. Raymond James boosted their target price on shares of Spotify Technology from $172.00 to $180.00 and gave the stock a strong-buy rating in a report on Thursday. Piper Jaffray Companies lowered shares of Pioneer Energy Services from an overweight rating to a neutral rating in a report on Thursday, June 27th. Evercore ISI began coverage on shares of Palomar in a report on Monday, May 13th. They set an outperform rating on the stock. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $20.00 price objective on shares of MACOM Technology Solutions in a research note on Monday, May 13th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Boston Scientific has a consensus rating of Buy and a consensus price target of $44.46.
In related news, SVP John Bradley Sorenson sold 3,728 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $42.30, for a total transaction of $157,694.40. Following the transaction, the senior vice president now directly owns 48,385 shares of the company’s stock, valued at $2,046,685.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 20,673 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $43.41, for a total transaction of $897,414.93. Following the transaction, the executive vice president now directly owns 226,835 shares in the company, valued at $9,846,907.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,327 shares of company stock worth $2,439,066. Insiders own 0.66% 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 three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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