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

Boston Scientific (NYSE:BSX) released its quarterly earnings results on Wednesday. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04, Briefing.com reports. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the firm earned $0.50 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis.

Boston Scientific Trading Down 0.4 %

Shares of BSX stock traded down $0.37 during mid-day trading on Friday, reaching $84.73. The stock had a trading volume of 6,297,105 shares, compared to its average volume of 6,046,294. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $83.47 and its two-hundred day moving average price is $77.74. The firm has a market capitalization of $124.31 billion, a PE ratio of 71.20, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific has a 52-week low of $49.15 and a 52-week high of $88.79.

Insider Buying and Selling

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock valued at $26,714,298 over the last ninety days. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BSX shares. Bank of America increased their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Evercore ISI boosted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Company Profile

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.