Wall Street analysts expect Boston Scientific Corporation (NYSE:BSX) to announce $0.34 earnings per share for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Boston Scientific’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.35. Boston Scientific reported earnings per share of $0.30 during the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The company is scheduled to report its next earnings report on Thursday, February 1st.
According to Zacks, analysts expect that Boston Scientific will report full year earnings of $1.25 per share for the current year, with EPS estimates ranging from $1.23 to $1.26. For the next financial year, analysts expect that the firm will report earnings of $1.38 per share, with EPS estimates ranging from $1.34 to $1.43. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Boston Scientific.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share.
Several analysts have weighed in on the stock. Oppenheimer reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, August 9th. BMO Capital Markets reiterated a “buy” rating and set a $31.00 target price on shares of Boston Scientific in a research note on Wednesday, November 29th. Zacks Investment Research lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Canaccord Genuity lowered their target price on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, November 29th. Finally, BidaskClub upgraded shares of Boston Scientific from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.97.
Boston Scientific (NYSE BSX) traded down $0.20 on Monday, reaching $25.04. 9,674,608 shares of the company traded hands, compared to its average volume of 6,979,998. The firm has a market capitalization of $34,247.51, a PE ratio of 20.44, a PEG ratio of 1.92 and a beta of 0.96. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Boston Scientific has a 1 year low of $20.37 and a 1 year high of $29.93.
In other news, EVP Timothy A. Pratt sold 10,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $26.04, for a total transaction of $260,400.00. Following the completion of the transaction, the executive vice president now owns 154,681 shares in the company, valued at $4,027,893.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Pratt sold 11,061 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was 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 disclosure for this sale can be found here. Insiders have sold 424,698 shares of company stock valued at $12,273,553 in the last 90 days. Insiders own 0.74% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BSX. Janus Henderson Group PLC grew its position in Boston Scientific by 22,491.6% in 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 buying an additional 38,690,577 shares in the last quarter. Jennison Associates LLC grew its position in Boston Scientific by 405.3% in 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 buying an additional 8,533,655 shares in the last quarter. BlackRock Inc. grew its position in Boston Scientific by 4.6% in 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 buying an additional 4,439,966 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in Boston Scientific by 35,016.2% in 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 buying an additional 3,033,800 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Boston Scientific by 149.1% in 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 buying an additional 2,850,630 shares in the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
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.
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