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

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

Boston Scientific Price Performance

BSX traded down $1.61 during midday trading on Thursday, reaching $85.84. 3,448,380 shares of the company’s stock were exchanged, compared to its average volume of 6,009,155. The firm has a market capitalization of $125.94 billion, a price-to-earnings ratio of 72.56, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a one year low of $49.15 and a one year high of $88.79. The business has a 50-day simple moving average of $83.19 and a two-hundred day simple moving average of $77.57.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday. Canaccord Genuity Group raised their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI raised their price target on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Mizuho raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value 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 approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock worth $26,714,298 over the last quarter. Company insiders own 0.50% 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 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.