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

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

Boston Scientific Stock Performance

BSX traded down $0.37 during midday trading on Friday, reaching $84.73. The company had a trading volume of 6,296,699 shares, compared to its average volume of 6,046,294. Boston Scientific has a 12-month low of $49.15 and a 12-month high of $88.79. The business has a 50-day moving average price of $83.34 and a two-hundred day moving average price of $77.62. The stock has a market cap of $124.31 billion, a PE ratio of 71.24, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BSX. Canaccord Genuity Group upped their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Thursday. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock worth $26,714,298 in the last quarter. 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.