Boston Scientific (BSX) Updates FY 2019 Earnings Guidance

Boston Scientific (NYSE:BSX) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.54-1.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.56. The company issued revenue guidance of $10.51061-10.60884 billion, compared to the consensus revenue estimate of $10.69 billion.Boston Scientific also updated its FY19 guidance to $1.54-1.58 EPS.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Boston Scientific from a sell rating to a hold rating in a research report on Monday, January 7th. SunTrust Banks reaffirmed a buy rating and issued a $47.00 target price on shares of Boston Scientific in a research report on Friday, February 8th. Argus upped their target price on Boston Scientific from $43.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, February 13th. Guggenheim reaffirmed a buy rating and issued a $48.00 target price on shares of Boston Scientific in a research report on Friday, February 8th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $45.00 target price on shares of Boston Scientific in a research report on Monday, February 11th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $40.72.

Shares of NYSE:BSX traded down $0.35 during trading on Wednesday, hitting $35.54. The company’s stock had a trading volume of 14,370,524 shares, compared to its average volume of 7,638,474. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.54 and a current ratio of 0.76. Boston Scientific has a fifty-two week low of $27.91 and a fifty-two week high of $41.00. The stock has a market cap of $49.01 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.87.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the firm posted $0.33 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Boston Scientific will post 1.55 EPS for the current year.

In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $38.15, for a total transaction of $190,750.00. Following the sale, the executive vice president now owns 29,201 shares in the company, valued at $1,114,018.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David A. Pierce sold 1,357 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $40.25, for a total value of $54,619.25. Following the sale, the executive vice president now owns 38,940 shares in the company, valued at approximately $1,567,335. The disclosure for this sale can be found here. Insiders have sold 342,352 shares of company stock worth $13,701,434 in the last 90 days. 0.66% of the stock is currently owned by insiders.

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Boston Scientific Company Profile

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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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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