Boston Scientific (NYSE:BSX) Updates FY22 Earnings Guidance

Boston Scientific (NYSE:BSX – Get Rating) issued an update on its FY22 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.74-1.79 for the period, compared to the Thomson Reuters consensus estimate of $1.77. The company issued revenue guidance of ~$12.72-12.96 billion, compared to the consensus revenue estimate of $12.84 billion.Boston Scientific also updated its Q2 guidance to $0.41-0.43 EPS.

Boston Scientific stock opened at $43.25 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.48 and a quick ratio of 1.10. The company has a market capitalization of $61.71 billion, a price-to-earnings ratio of 61.74, a PEG ratio of 2.55 and a beta of 0.83. Boston Scientific has a one year low of $37.96 and a one year high of $47.49. The company’s fifty day moving average price is $43.81 and its two-hundred day moving average price is $42.91.

Boston Scientific (NYSE:BSX – Get Rating) last posted its earnings results on Wednesday, February 2nd. The medical equipment provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.11 billion. Boston Scientific had a net margin of 8.63% and a return on equity of 14.43%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific will post 1.76 earnings per share for the current year.

BSX has been the topic of several analyst reports. Bank of America started coverage on shares of Boston Scientific in a research report on Tuesday, March 1st. They set a buy rating on the stock. Truist Financial started coverage on shares of Boston Scientific in a report on Wednesday, April 13th. They set a buy rating and a $52.00 price target for the company. Morgan Stanley decreased their price target on shares of Boston Scientific from $53.00 to $51.00 and set an overweight rating for the company in a report on Thursday, February 3rd. TheStreet cut shares of Boston Scientific from a b rating to a c+ rating in a report on Tuesday, March 8th. Finally, StockNews.com cut shares of Boston Scientific from a buy rating to a hold rating in a report on Thursday, April 21st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $48.90.

In other news, EVP Jeffrey B. Mirviss sold 10,989 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $45.50, for a total transaction of $499,999.50. Following the completion of the sale, the executive vice president now owns 119,961 shares of the company’s stock, valued at $5,458,225.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP John Bradley Sorenson sold 13,167 shares of the firm’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $43.20, for a total transaction of $568,814.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,743 shares of company stock valued at $5,294,188. Corporate insiders own 0.71% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthsource Partners LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $330,000. Forum Financial Management LP acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $489,000. Richwood Investment Advisors LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $45,000. NewEdge Advisors LLC increased its holdings in shares of Boston Scientific by 7.6% in the fourth quarter. NewEdge Advisors LLC now owns 16,782 shares of the medical equipment provider’s stock valued at $713,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Toroso Investments LLC increased its holdings in shares of Boston Scientific by 18.1% in the fourth quarter. Toroso Investments LLC now owns 42,016 shares of the medical equipment provider’s stock valued at $1,785,000 after purchasing an additional 6,427 shares in the last quarter. 89.75% of the stock is owned by institutional investors.

Boston Scientific Company Profile (Get Rating)

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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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