Boston Scientific (BSX) to Release Quarterly Earnings on Wednesday

Boston Scientific (NYSE:BSX) will be releasing its earnings data before the market opens on Wednesday, October 23rd. Analysts expect Boston Scientific to post earnings of $0.58 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts expect Boston Scientific to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Boston Scientific Stock Performance

Shares of BSX opened at $86.77 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $81.76 and its 200-day moving average price is $76.82. Boston Scientific has a 52 week low of $49.15 and a 52 week high of $88.09. The stock has a market cap of $127.30 billion, a P/E ratio of 72.92, a P/E/G ratio of 2.87 and a beta of 0.80.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction dated 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 $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. Over the last three months, insiders have sold 316,253 shares of company stock worth $26,714,298. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Raymond James lifted their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird lifted their target price on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Truist Financial lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Finally, Needham & Company LLC lifted their target price on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $88.55.

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.