Analysts Anticipate Boston Scientific Co. (NYSE:BSX) Will Announce Earnings of $0.38 Per Share

Equities research analysts predict that Boston Scientific Co. (NYSE:BSX) will post earnings of $0.38 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Boston Scientific’s earnings, with estimates ranging from $0.37 to $0.39. Boston Scientific posted earnings of $0.41 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7.3%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, July 24th.

According to Zacks, analysts expect that Boston Scientific will report full year earnings of $1.55 per share for the current year, with EPS estimates ranging from $1.54 to $1.57. For the next financial year, analysts forecast that the company will report earnings of $1.78 per share, with EPS estimates ranging from $1.72 to $1.87. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Boston Scientific.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year.

A number of research analysts have recently weighed in on BSX shares. Wells Fargo & Co raised their target price on Boston Scientific from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of MACOM Technology Solutions in a research report on Monday, May 13th. Jefferies Financial Group decreased their target price on National Beverage from $34.00 to $33.00 and set an “underperform” rating for the company in a research report on Thursday, June 27th. Canaccord Genuity reissued a “hold” rating and issued a $19.50 target price on shares of in a research report on Thursday, June 27th. Finally, BTIG Research raised their target price on ServiceNow to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.01.

NYSE:BSX traded up $0.40 on Friday, hitting $42.64. The stock had a trading volume of 6,054,515 shares, compared to its average volume of 7,595,490. The company’s fifty day moving average price is $41.36. The company has a market cap of $58.82 billion, a P/E ratio of 29.01, a PEG ratio of 2.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39. Boston Scientific has a 52 week low of $31.56 and a 52 week high of $43.66.

In other Boston Scientific news, SVP John Bradley Sorenson sold 3,728 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $42.30, for a total value of $157,694.40. Following the completion of the sale, the senior vice president now owns 48,385 shares in the company, valued at approximately $2,046,685.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 1,906 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $43.00, for a total value of $81,958.00. Following the transaction, the executive vice president now owns 226,835 shares of the company’s stock, valued at approximately $9,753,905. The disclosure for this sale can be found here. Insiders have sold a total of 60,327 shares of company stock worth $2,439,066 over the last three months. Insiders own 0.66% of the company’s stock.

Several large investors have recently made changes to their positions in BSX. Investors Research Corp lifted its stake in Boston Scientific by 333.3% in the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 500 shares during the last quarter. NEXT Financial Group Inc lifted its stake in Boston Scientific by 222.3% in the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 538 shares during the last quarter. Essex Savings Bank bought a new stake in Boston Scientific in the first quarter worth about $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Boston Scientific by 60.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Finally, Hanson McClain Inc. lifted its stake in Boston Scientific by 107.6% in the first quarter. Hanson McClain Inc. now owns 903 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 468 shares during the last quarter. 90.68% of the stock is owned by hedge funds and other institutional investors.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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