Boston Scientific (NYSE:BSX) Announces Earnings Results

Boston Scientific (NYSE:BSX) released its quarterly earnings results on Wednesday. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04, Briefing.com reports. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS.

Boston Scientific Stock Performance

Shares of BSX stock traded down $3.50 on Thursday, reaching $74.26. The stock had a trading volume of 10,900,652 shares, compared to its average volume of 6,285,901. The stock has a market cap of $108.95 billion, a P/E ratio of 63.87, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $79.43. 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 simple moving average of $76.49 and a 200 day simple moving average of $70.18.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley increased their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Raymond James increased their target price on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a research report on Thursday. Finally, Barclays increased their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’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 in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’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 in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock worth $5,344,014 in the last ninety days. 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.