Boston Scientific (NYSE:BSX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Boston Scientific (NYSE:BSX) announced its quarterly earnings results on Wednesday. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04, Briefing.com reports. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $3.50 during mid-day trading on Thursday, hitting $74.26. The stock had a trading volume of 10,900,652 shares, compared to its average volume of 6,285,901. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The company has a 50 day moving average of $76.49 and a two-hundred day moving average of $70.18. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $79.43. The firm has a market cap of $108.95 billion, a PE ratio of 63.87, a PEG ratio of 2.70 and a beta of 0.78.

Analyst Ratings Changes

A number of analysts recently issued reports on BSX shares. Mizuho boosted their price target on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. upped their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group began coverage on Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 target price for the company. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, UBS Group upped their target price on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock valued at $5,344,014 in the last ninety days. Company insiders own 0.50% of the company’s stock.

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.