Boston Scientific Corporation (BSX) Expected to Post Earnings of $0.31 Per Share

Brokerages expect Boston Scientific Corporation (NYSE:BSX) to post $0.31 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Boston Scientific’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.33. Boston Scientific reported earnings per share of $0.29 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Boston Scientific will report full year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.34 to $1.43. For the next year, analysts anticipate that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.46 to $1.60. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Boston Scientific.

Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Boston Scientific had a return on equity of 24.04% and a net margin of 1.15%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share.

A number of research analysts have recently issued reports on the company. Barclays reissued a “buy” rating and issued a $32.00 target price on shares of Boston Scientific in a report on Wednesday, January 10th. BMO Capital Markets reissued a “buy” rating and issued a $31.00 target price on shares of Boston Scientific in a report on Wednesday, November 29th. Needham & Company LLC raised Boston Scientific from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $25.04 to $32.00 in a report on Friday, December 8th. Zacks Investment Research lowered Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Oppenheimer reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.00.

Boston Scientific (BSX) traded up $0.72 during trading hours on Friday, hitting $25.92. The stock had a trading volume of 11,061,922 shares, compared to its average volume of 9,580,000. The firm has a market capitalization of $36,610.00, a price-to-earnings ratio of 370.29, a P/E/G ratio of 1.83 and a beta of 0.81. 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 1-year low of $23.29 and a 1-year high of $29.93.

In other Boston Scientific news, SVP David A. Pierce sold 5,152 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $27.00, for a total transaction of $139,104.00. Following the sale, the senior vice president now directly owns 38,116 shares in the company, valued at $1,029,132. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $26.66, for a total value of $413,230.00. The disclosure for this sale can be found here. Insiders have sold 161,464 shares of company stock worth $4,253,617 in the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new stake in Boston Scientific during the fourth quarter worth $126,000. Valeo Financial Advisors LLC purchased a new stake in Boston Scientific during the third quarter worth $138,000. Steward Partners Investment Advisory LLC purchased a new stake in Boston Scientific during the third quarter worth $139,000. Ironwood Investment Counsel LLC purchased a new stake in Boston Scientific during the third quarter worth $204,000. Finally, Perkins Capital Management Inc. purchased a new stake in Boston Scientific during the third quarter worth $204,000. Institutional investors own 90.15% of the company’s stock.

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Boston Scientific Company Profile

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.

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

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