Boston Scientific (NYSE:BSX) Releases FY 2024 Earnings Guidance

Boston Scientific (NYSE:BSX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.290-2.340 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.6 billion. Boston Scientific also updated its FY24 guidance to $2.29-2.34 EPS.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.34 on Thursday, hitting $73.25. The company had a trading volume of 3,370,091 shares, compared to its average volume of 6,497,581. The business has a 50-day simple moving average of $67.53 and a 200-day simple moving average of $60.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The company has a market cap of $107.47 billion, a PE ratio of 68.46, a PEG ratio of 2.42 and a beta of 0.78. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39.

Boston Scientific (NYSE:BSX) last issued its earnings results 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 period last year, the firm posted $0.45 earnings per share. Research analysts expect that Boston Scientific will post 2.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BSX shares. Raymond James increased their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a strong-buy rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research report on Thursday. Argus increased their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. BTIG Research restated a buy rating and set a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Finally, Mizuho raised their price target on shares of Boston Scientific from $80.00 to $85.00 and gave the company a buy rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of Moderate Buy and an average target price of $74.00.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 in the last ninety days. 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.