Boston Scientific (NYSE:BSX – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.570-0.590 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.
Boston Scientific Stock Down 0.1 %
Shares of NYSE:BSX traded down $0.09 during mid-day trading on Friday, reaching $73.17. 8,786,294 shares of the stock were exchanged, compared to its average volume of 6,225,924. Boston Scientific has a one year low of $48.35 and a one year high of $74.39. The company has a market cap of $107.35 billion, a P/E ratio of 61.45, a P/E/G ratio of 2.52 and a beta of 0.78. The stock’s 50 day simple moving average is $67.82 and its 200-day simple moving average is $60.51. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.
Boston Scientific (NYSE:BSX – Get Free Report) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts predict that Boston Scientific will post 2.32 EPS for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on Boston Scientific
Insider Buying and Selling at Boston Scientific
In other news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by corporate insiders.
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.
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