Boston Scientific (NYSE:BSX) Updates Q2 2024 Earnings Guidance

Boston Scientific (NYSE:BSX - Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.570-0.590 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com downgraded shares of Boston Scientific from a buy rating to a hold rating in a research report on Saturday, March 16th. Argus boosted 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. Raymond James boosted their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the stock a strong-buy rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Finally, TD Cowen boosted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific currently has an average rating of Moderate Buy and an average target price of $69.00.

Boston Scientific Price Performance

Shares of BSX stock traded up $3.92 during mid-day trading on Wednesday, reaching $72.91. The company's stock had a trading volume of 14,206,418 shares, compared to its average volume of 6,540,234. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $74.39. The company has a market cap of $106.97 billion, a P/E ratio of 68.14, a PEG ratio of 2.38 and a beta of 0.78. 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 firm's 50-day moving average is $67.53 and its two-hundred day moving average is $60.28.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.59 billion. During the same quarter in the prior year, the company posted $0.45 EPS. On average, research analysts predict that Boston Scientific will post 2.25 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company's stock, valued at approximately $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP John Bradley Sorenson sold 16,351 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company's stock, valued at approximately $3,509,213.40. The transaction 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 company'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 completion of 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. In the last quarter, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by insiders.

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.