Boston Scientific (NYSE:BSX) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.35-$0.36 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.37. The company issued revenue guidance of $2.52-$2.55 billion, compared to the consensus revenue estimate of $2.54 billion.Boston Scientific also updated its FY 2019 guidance to $1.53-1.58 EPS.
Shares of NYSE:BSX opened at $37.75 on Wednesday. Boston Scientific has a one year low of $25.04 and a one year high of $39.44. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.58. The company has a market cap of $52.24 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.83.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, equities research analysts forecast that Boston Scientific will post 1.39 earnings per share for the current fiscal year.
BSX has been the subject of a number of analyst reports. Cowen set a $42.00 price objective on shares of Boston Scientific and gave the company a buy rating in a report on Monday, October 22nd. BTIG Research restated a buy rating and set a $45.00 price objective on shares of Boston Scientific in a report on Tuesday, October 16th. SunTrust Banks boosted their price objective on shares of Boston Scientific to $44.00 and gave the company a buy rating in a report on Tuesday, November 20th. Guggenheim boosted their price objective on shares of Boston Scientific to $45.00 and gave the company a buy rating in a report on Friday, November 16th. Finally, Argus boosted their price objective on shares of Boston Scientific from $41.00 to $43.00 and gave the company a buy rating in a report on Friday, October 26th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $40.12.
In other news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $38.15, for a total value of $190,750.00. Following the sale, the executive vice president now owns 29,201 shares of the company’s stock, valued at $1,114,018.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Maulik Nanavaty sold 3,038 shares of the business’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $35.46, for a total transaction of $107,727.48. The disclosure for this sale can be found here. In the last three months, insiders sold 95,724 shares of company stock worth $3,504,373. 0.73% of the stock is currently owned by insiders.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Equities Focus and is owned by of Equities Focus. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.equitiesfocus.com/2019/02/06/boston-scientific-bsx-issues-q1-earnings-guidance.html.
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: Cardiovascular, Rhythm Management, and MedSurg. 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.
Recommended Story: How a Strangle Strategy is different from a Straddle Strategy
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.