Boston Scientific (NYSE:BSX – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.38 to $2.42 for the period, compared to the consensus earnings per share estimate of $2.33. The company issued revenue guidance of +13.5 to +14.5% yr/yr or $16.162 billion to $16.305 bl, compared to the consensus revenue estimate of $16.02 billion. Boston Scientific also updated its FY 2024 guidance to 2.380-2.420 EPS.
Boston Scientific Trading Up 1.2 %
Shares of NYSE:BSX traded up $0.87 during trading on Friday, reaching $75.13. The stock had a trading volume of 4,375,414 shares, compared to its average volume of 6,272,560. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a market cap of $110.22 billion, a P/E ratio of 62.40, a PEG ratio of 2.64 and a beta of 0.78. The business has a fifty day moving average price of $76.48 and a 200-day moving average price of $70.20. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $79.43.
Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific will post 2.35 earnings per share for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Analysis on BSX
Insider Transactions at Boston Scientific
In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,441 shares of company stock worth $4,624,453. 0.50% of the stock is owned by corporate insiders.
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.
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