Analysts Anticipate Boston Scientific Corporation (BSX) Will Post Quarterly Sales of $2.35 Billion
Brokerages expect Boston Scientific Corporation (NYSE:BSX) to report sales of $2.35 billion for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Boston Scientific Corporation’s earnings, with estimates ranging from $2.32 billion to $2.37 billion. Boston Scientific Corporation posted sales of $2.19 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 1st.
On average, analysts expect that Boston Scientific Corporation will report full-year sales of $2.35 billion for the current year, with estimates ranging from $8.96 billion to $9.01 billion. For the next financial year, analysts forecast that the company will report sales of $9.65 billion per share, with estimates ranging from $9.54 billion to $9.77 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Boston Scientific Corporation.
Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Boston Scientific Corporation had a return on equity of 23.60% and a net margin of 9.55%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year.
Several brokerages recently issued reports on BSX. Zacks Investment Research upgraded Boston Scientific Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. UBS AG restated a “buy” rating and set a $31.00 price target (up from $30.00) on shares of Boston Scientific Corporation in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Boston Scientific Corporation in a research note on Wednesday, August 9th. Cowen and Company reiterated a “buy” rating and issued a $32.00 price objective (up from $31.00) on shares of Boston Scientific Corporation in a research note on Friday, July 28th. Finally, BidaskClub lowered Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.77.
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In related news, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $26.87, for a total transaction of $416,485.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Pratt sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $28.22, for a total value of $282,200.00. Following the sale, the executive vice president now directly owns 164,681 shares in the company, valued at approximately $4,647,297.82. The disclosure for this sale can be found here. Insiders have sold a total of 508,864 shares of company stock worth $14,581,669 in the last ninety days. 0.74% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Capital World Investors increased its holdings in Boston Scientific Corporation by 1.6% during the 2nd quarter. Capital World Investors now owns 101,914,290 shares of the medical equipment provider’s stock worth $2,825,064,000 after purchasing an additional 1,611,442 shares in the last quarter. BlackRock Inc. increased its holdings in Boston Scientific Corporation by 4.6% during the 2nd quarter. BlackRock Inc. now owns 100,184,511 shares of the medical equipment provider’s stock worth $2,777,113,000 after purchasing an additional 4,439,966 shares in the last quarter. Vanguard Group Inc. increased its holdings in Boston Scientific Corporation by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 93,657,300 shares of the medical equipment provider’s stock worth $2,596,181,000 after purchasing an additional 2,522,556 shares in the last quarter. Janus Henderson Group PLC increased its holdings in 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 worth $1,077,270,000 after purchasing an additional 38,690,577 shares in the last quarter. Finally, Winslow Capital Management LLC increased its holdings in Boston Scientific Corporation by 21.9% during the 2nd quarter. Winslow Capital Management LLC now owns 11,212,783 shares of the medical equipment provider’s stock worth $310,818,000 after purchasing an additional 2,011,640 shares in the last quarter. Hedge funds and other institutional investors own 90.50% of the company’s stock.
Boston Scientific Corporation (NYSE:BSX) opened at $28.26 on Friday. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $29.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. The stock has a market capitalization of $38,830.00, a PE ratio of 23.21, a P/E/G ratio of 2.19 and a beta of 0.99.
Boston Scientific Corporation Company Profile
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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