Boston Scientific (NYSE:BSX – Get Free Report) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.57-0.59 for the period, compared to the consensus earnings per share estimate of $0.56. The company issued revenue guidance of +10.5-12.5% yr/yr to ~$3.98-4.05 billion, compared to the consensus revenue estimate of $3.93 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.
Boston Scientific Stock Performance
NYSE:BSX opened at $68.99 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market capitalization of $101.22 billion, a P/E ratio of 64.48, a PEG ratio of 2.38 and a beta of 0.78. The company has a 50 day moving average price of $67.39 and a 200 day moving average price of $60.19. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $69.21.
Boston Scientific (NYSE:BSX – Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter last year, the company posted $0.45 EPS. Equities research analysts forecast that Boston Scientific will post 2.25 EPS for the current year.
Analysts Set New Price Targets
Read Our Latest Research Report on BSX
Insider Activity
In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 over the last quarter. Corporate insiders own 0.50% of the company’s stock.
Boston Scientific Company Profile
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.
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