Boston Scientific Co. (BSX) Expected to Post Earnings of $0.36 Per Share

Equities research analysts predict that Boston Scientific Co. (NYSE:BSX) will post $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Boston Scientific’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.36. Boston Scientific reported earnings of $0.33 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, April 24th.

According to Zacks, analysts expect that Boston Scientific will report full-year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.54 to $1.57. For the next financial year, analysts anticipate that the business will post earnings of $1.79 per share, with EPS estimates ranging from $1.72 to $1.88. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Boston Scientific.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Boston Scientific had a net margin of 17.01% and a return on equity of 25.92%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the business earned $0.34 earnings per share. Boston Scientific’s revenue was up 6.4% compared to the same quarter last year.

Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $43.00 target price on shares of Boston Scientific in a research report on Wednesday, February 6th. Canaccord Genuity dropped their target price on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday. Zacks Investment Research lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. SunTrust Banks reiterated a “buy” rating and set a $47.00 target price on shares of Boston Scientific in a research report on Friday, February 8th. Finally, Argus lifted their target price on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Three investment 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. The company presently has a consensus rating of “Buy” and an average price target of $40.72.

Boston Scientific stock traded up $0.20 during mid-day trading on Friday, hitting $35.11. 10,280,978 shares of the company traded hands, compared to its average volume of 7,553,305. Boston Scientific has a one year low of $27.91 and a one year high of $41.00. The firm has a market cap of $48.82 billion, a PE ratio of 23.88, a PEG ratio of 2.21 and a beta of 0.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.76 and a quick ratio of 0.54.

In other news, CFO Daniel J. Brennan sold 64,223 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.84, for a total value of $2,622,867.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Pierce sold 1,357 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $40.25, for a total transaction of $54,619.25. Following the completion of the sale, the executive vice president now owns 38,940 shares of the company’s stock, valued at $1,567,335. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,352 shares of company stock valued at $13,701,434. Company insiders own 0.66% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of BSX. We Are One Seven LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth $27,000. Ipswich Investment Management Co. Inc. purchased a new position in Boston Scientific during the 4th quarter valued at $28,000. Athena Capital Advisors LLC purchased a new position in Boston Scientific during the 4th quarter valued at $28,000. CWM LLC increased its position in Boston Scientific by 54.3% during the 4th quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 359 shares during the period. Finally, West Oak Capital LLC increased its position in Boston Scientific by 40.0% during the 4th quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 300 shares during the period. 91.70% of the stock is currently owned by institutional investors.

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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