Boston Scientific (BSX) Set to Announce Earnings on Wednesday

Boston Scientific (NYSE:BSX) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Boston Scientific to post earnings of $0.51 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the company earned $0.45 earnings per share. 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 Price Performance

Shares of BSX opened at $68.11 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average is $67.11 and its 200 day moving average is $59.63. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $69.21. The stock has a market cap of $99.92 billion, a P/E ratio of 63.65, a P/E/G ratio of 2.38 and a beta of 0.78.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BSX shares. TD Cowen upped their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Oppenheimer raised their target price on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. BTIG Research reiterated a “buy” rating and set a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

A number of large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $54,000. Acadian Asset Management LLC purchased a new stake in Boston Scientific during the first quarter valued at about $35,000. Prudential PLC bought a new stake in Boston Scientific during the first quarter worth about $1,076,000. Cetera Investment Advisers lifted its stake in Boston Scientific by 24.0% during the first quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock worth $1,275,000 after purchasing an additional 5,581 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Boston Scientific in the 1st quarter worth about $230,000. Institutional investors own 89.07% 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.