Boston Scientific (BSX) Issues FY18 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.37-1.41 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.37. The company issued revenue guidance of $9.75-9.90 billion (+5-7% organic), compared to the consensus revenue estimate of $9.75 billion.Boston Scientific also updated its Q2 guidance to $0.33-0.35 EPS.

Shares of BSX traded up $0.03 during mid-day trading on Thursday, reaching $29.45. 3,159,449 shares of the company’s stock traded hands, compared to its average volume of 8,053,089. The stock has a market cap of $39,184.96, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The company has a current ratio of 0.68, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. Boston Scientific has a 12 month low of $24.54 and a 12 month high of $29.93.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Boston Scientific had a return on equity of 24.27% and a net margin of 1.15%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. analysts forecast that Boston Scientific will post 1.37 EPS for the current year.

A number of equities research analysts have recently weighed in on BSX shares. TheStreet raised Boston Scientific from a c+ rating to a b rating in a report on Thursday, January 18th. Canaccord Genuity reiterated a buy rating on shares of Boston Scientific in a research note on Wednesday, January 17th. Needham & Company LLC reiterated a buy rating and set a $32.00 price objective on shares of Boston Scientific in a research note on Tuesday, January 16th. Barclays reiterated a buy rating and set a $32.00 price objective on shares of Boston Scientific in a research note on Wednesday, January 10th. Finally, Bank of America raised their price objective on shares of Boston Scientific from $30.00 to $34.00 and gave the company a buy rating in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Boston Scientific has a consensus rating of Buy and an average price target of $31.91.

In related news, SVP Maulik Nanavaty sold 15,568 shares of Boston Scientific stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.38, for a total value of $395,115.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 85,227 shares of Boston Scientific stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $26.48, for a total transaction of $2,256,810.96. The disclosure for this sale can be found here. Insiders sold a total of 238,903 shares of company stock worth $6,497,699 in the last quarter. Insiders own 0.73% 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 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.

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

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply