Wall Street analysts predict that Boston Scientific Corporation (NYSE:BSX) will post earnings per share of $0.31 for the current quarter, Zacks reports. Ten analysts have made estimates for Boston Scientific Corporation’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.30. Boston Scientific Corporation reported earnings per share of $0.27 in the same quarter last year, which indicates a positive year-over-year growth rate of 14.8%. The company is expected to issue its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Boston Scientific Corporation will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.24 to $1.27. For the next financial year, analysts forecast that the firm will post earnings of $1.39 per share, with EPS estimates ranging from $1.34 to $1.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Boston Scientific Corporation.
Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. Boston Scientific Corporation’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share.
Several equities research analysts have recently issued reports on BSX shares. Royal Bank Of Canada raised their target price on Boston Scientific Corporation from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, June 9th. BidaskClub raised Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Wells Fargo & Company reiterated an “outperform” rating and set a $31.00 price target (up previously from $29.50) on shares of Boston Scientific Corporation in a research note on Friday, June 16th. BMO Capital Markets reiterated a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a research note on Wednesday, June 21st. Finally, Needham & Company LLC increased their price target on Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $29.88.
In other news, SVP John Bradley Sorenson sold 7,900 shares of Boston Scientific Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $26.37, for a total transaction of $208,323.00. Following the completion of the sale, the senior vice president now owns 21,680 shares in the company, valued at approximately $571,701.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $26.67, for a total value of $266,700.00. Following the sale, the executive vice president now owns 195,846 shares of the company’s stock, valued at approximately $5,223,212.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,257 shares of company stock valued at $7,512,394. 0.74% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of BSX. BlackRock Inc. boosted its position in shares of Boston Scientific Corporation by 2,181.6% during the 1st quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock valued at $2,381,169,000 after acquiring an additional 91,548,235 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Boston Scientific Corporation by 22,491.6% during the 2nd quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock valued at $1,077,270,000 after acquiring an additional 38,690,577 shares during the last quarter. FMR LLC boosted its position in shares of Boston Scientific Corporation by 7.6% during the 1st quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock valued at $4,593,698,000 after acquiring an additional 13,105,596 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Boston Scientific Corporation by 405.3% during the 2nd quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock valued at $294,921,000 after acquiring an additional 8,533,655 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Boston Scientific Corporation during the 1st quarter valued at about $149,859,000. Hedge funds and other institutional investors own 90.44% of the company’s stock.
Shares of Boston Scientific Corporation (NYSE:BSX) opened at 28.99 on Tuesday. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $29.40. The stock has a 50 day moving average of $27.33 and a 200-day moving average of $26.58. The company has a market cap of $39.78 billion, a PE ratio of 51.86 and a beta of 1.09.
About Boston Scientific Corporation
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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