Analysts Expect Boston Scientific Co. (BSX) Will Post Quarterly Sales of $2.41 Billion

Analysts expect Boston Scientific Co. (NYSE:BSX) to announce sales of $2.41 billion for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Boston Scientific’s earnings. The highest sales estimate is $2.42 billion and the lowest is $2.40 billion. Boston Scientific reported sales of $2.22 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The business is expected to issue its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that Boston Scientific will report full year sales of $9.86 billion for the current financial year, with estimates ranging from $9.83 billion to $9.88 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.58 billion, with estimates ranging from $10.44 billion to $10.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Boston Scientific.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.47 billion. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. Boston Scientific’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

A number of equities analysts have commented on the company. Needham & Company LLC reaffirmed a “strong-buy” rating on shares of Boston Scientific in a research note on Friday, July 6th. Oppenheimer reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Tuesday. BMO Capital Markets lifted their price target on Boston Scientific to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Sanford C. Bernstein assumed coverage on Boston Scientific in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $38.00 price target on the stock. Finally, ValuEngine raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $36.43.

In other news, EVP Kevin J. Ballinger sold 37,430 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $38.00, for a total transaction of $1,422,340.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $32.42, for a total value of $162,100.00. Following the transaction, the executive vice president now directly owns 29,201 shares in the company, valued at $946,696.42. The disclosure for this sale can be found here. Insiders have sold 212,680 shares of company stock worth $7,619,335 over the last three months. Insiders own 0.73% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Systematic Financial Management LP boosted its position in shares of Boston Scientific by 51.3% during the first quarter. Systematic Financial Management LP now owns 18,000 shares of the medical equipment provider’s stock valued at $492,000 after purchasing an additional 6,100 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Boston Scientific by 5.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 38,234 shares of the medical equipment provider’s stock valued at $1,044,000 after purchasing an additional 2,143 shares in the last quarter. Brinker Capital Inc. boosted its position in shares of Boston Scientific by 16.7% during the first quarter. Brinker Capital Inc. now owns 31,096 shares of the medical equipment provider’s stock valued at $850,000 after purchasing an additional 4,442 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Boston Scientific by 23.2% during the first quarter. Natixis Advisors L.P. now owns 145,408 shares of the medical equipment provider’s stock valued at $3,973,000 after purchasing an additional 27,422 shares in the last quarter. Finally, Norinchukin Bank The boosted its position in shares of Boston Scientific by 14.7% during the first quarter. Norinchukin Bank The now owns 125,984 shares of the medical equipment provider’s stock valued at $3,442,000 after purchasing an additional 16,194 shares in the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific stock traded down $0.29 during trading hours on Monday, reaching $38.34. The company had a trading volume of 5,505,500 shares, compared to its average volume of 7,563,219. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.60. The stock has a market capitalization of $53.39 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. Boston Scientific has a 12-month low of $24.54 and a 12-month high of $39.13.

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.

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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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