Boston Scientific (NYSE:BSX) Issues Q3 Earnings Guidance

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Boston Scientific (NYSE:BSX) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.37-$0.39 for the period, compared to the Thomson Reuters consensus estimate of $0.39. The company issued revenue guidance of $2.69-$2.74 billion, compared to the consensus revenue estimate of $2.65 billion.Boston Scientific also updated its FY 2019 guidance to $1.54-1.58 EPS.

Shares of BSX stock traded up $0.06 on Friday, hitting $42.07. The stock had a trading volume of 166,884 shares, compared to its average volume of 6,282,415. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39. The business has a 50 day moving average price of $41.99. The company has a market capitalization of $59.62 billion, a P/E ratio of 28.59, a PEG ratio of 2.57 and a beta of 0.80. Boston Scientific has a one year low of $31.56 and a one year high of $43.66.

Boston Scientific (NYSE:BSX) last issued its quarterly 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. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.64 billion. Boston Scientific had a return on equity of 23.74% and a net margin of 13.85%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 earnings per share. On average, research analysts predict that Boston Scientific will post 1.55 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on BSX shares. Raymond James upped their target price on Spotify Technology from $172.00 to $180.00 and gave the stock a strong-buy rating in a research note on Thursday. Piper Jaffray Companies cut Pioneer Energy Services from an overweight rating to a neutral rating in a report on Thursday, June 27th. BTIG Research raised their target price on ServiceNow to $295.00 and gave the company a buy rating in a report on Thursday, April 25th. Jefferies Financial Group lowered their target price on National Beverage from $34.00 to $33.00 and set an underperform rating for the company in a report on Thursday, June 27th. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $19.50 price target on shares of in a research report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $44.46.

In related news, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.10, for a total transaction of $185,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 1,906 shares of Boston Scientific stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $43.00, for a total value of $81,958.00. Following the sale, the executive vice president now directly owns 226,835 shares in the company, valued at $9,753,905. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,327 shares of company stock valued at $2,439,066. 0.66% of the stock is owned by corporate insiders.

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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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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