Boston Scientific (BSX) to Release Earnings on Wednesday

Boston Scientific (NYSE:BSX) will announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.51 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the prior year, the company posted $0.45 EPS. On average, analysts expect Boston Scientific to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Boston Scientific Price Performance

Shares of BSX stock opened at $68.11 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The company has a market capitalization of $99.92 billion, a P/E ratio of 63.65, a P/E/G ratio of 2.38 and a beta of 0.78. The company’s 50-day simple moving average is $67.11 and its two-hundred day simple moving average is $59.63. Boston Scientific has a one year low of $48.35 and a one year high of $69.21.

Wall Street Analyst Weigh In

BSX has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Citigroup boosted their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company increased their target price on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. purchased a new stake in shares of Boston Scientific during the 1st quarter worth about $32,000. Coppell Advisory Solutions LLC acquired a new position in shares of Boston Scientific during the second quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new position in Boston Scientific in the 1st quarter valued at $35,000. Evermay Wealth Management LLC boosted its stake in Boston Scientific by 111.9% during the 1st quarter. Evermay Wealth Management LLC now owns 763 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 403 shares during the last quarter. Finally, LM Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.