Research Analysts Set Expectations for Boston Scientific Corporation’s Q3 2018 Earnings (BSX)

Boston Scientific Corporation (NYSE:BSX) – Research analysts at Jefferies Group cut their Q3 2018 EPS estimates for shares of Boston Scientific in a research report issued to clients and investors on Wednesday. Jefferies Group analyst R. Denhoy now forecasts that the medical equipment provider will post earnings per share of $0.33 for the quarter, down from their prior forecast of $0.34. Jefferies Group has a “Hold” rating on the stock.

Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price target on shares of Boston Scientific in a report on Friday, September 1st. Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, October 20th. BMO Capital Markets reissued a “buy” rating and issued a $30.00 price target on shares of Boston Scientific in a report on Friday, October 13th. Finally, SunTrust Banks set a $34.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $30.61.

Shares of Boston Scientific (BSX) traded down $0.13 during midday trading on Friday, reaching $26.15. 16,183,181 shares of the company traded hands, compared to its average volume of 6,852,641. The stock has a market cap of $35,910.00, a price-to-earnings ratio of 21.63, a PEG ratio of 2.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. Boston Scientific has a 12 month low of $20.03 and a 12 month high of $29.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS.

Several hedge funds have recently made changes to their positions in BSX. Janus Henderson Group PLC boosted its position in shares of Boston Scientific by 22,491.6% during the 2nd quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock valued at $1,077,270,000 after acquiring an additional 38,690,577 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Boston Scientific by 405.3% during the 2nd quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock valued at $294,921,000 after acquiring an additional 8,533,655 shares during the last quarter. BlackRock Inc. boosted its position in shares of Boston Scientific by 4.6% during the 2nd quarter. BlackRock Inc. now owns 100,184,511 shares of the medical equipment provider’s stock valued at $2,777,113,000 after acquiring an additional 4,439,966 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Boston Scientific by 35,016.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,042,464 shares of the medical equipment provider’s stock valued at $84,337,000 after acquiring an additional 3,033,800 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Boston Scientific by 149.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,762,674 shares of the medical equipment provider’s stock valued at $138,928,000 after acquiring an additional 2,850,630 shares during the last quarter. 90.55% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Timothy A. Pratt sold 11,061 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.24, for a total transaction of $323,423.64. Following the transaction, the executive vice president now owns 174,681 shares of the company’s stock, valued at approximately $5,107,672.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $28.72, for a total transaction of $445,160.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 414,698 shares of company stock worth $12,013,153. 0.74% of the stock is currently owned by corporate insiders.

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About Boston Scientific

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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