Analysts Expect Boston Scientific Co. (NYSE:BSX) Will Post Quarterly Sales of $2.99 Billion

Brokerages expect Boston Scientific Co. (NYSE:BSX) to announce $2.99 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Boston Scientific’s earnings. The highest sales estimate is $3.02 billion and the lowest is $2.95 billion. Boston Scientific posted sales of $2.66 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.4%. The business is expected to announce its next quarterly earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that Boston Scientific will report full year sales of $12.01 billion for the current fiscal year, with estimates ranging from $11.95 billion to $12.06 billion. For the next fiscal year, analysts forecast that the business will report sales of $12.97 billion, with estimates ranging from $12.74 billion to $13.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Boston Scientific.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Monday, July 26th. The medical equipment provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Boston Scientific had a return on equity of 12.67% and a net margin of 4.56%. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $0.08 earnings per share. The business’s revenue was up 53.6% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Argus boosted their price objective on Boston Scientific from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 7th. Credit Suisse Group upped their target price on Boston Scientific from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Raymond James boosted their price target on Boston Scientific from $50.00 to $53.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 28th. Needham & Company LLC set a $42.74 price target on Boston Scientific and gave the company a “hold” rating in a report on Thursday, July 15th. Finally, TheStreet lowered Boston Scientific from a “b” rating to a “c+” rating in a report on Tuesday, July 27th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $48.65.

In other Boston Scientific news, SVP Wendy Carruthers sold 3,321 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $44.88, for a total value of $149,046.48. Following the transaction, the senior vice president now directly owns 164,573 shares of the company’s stock, valued at approximately $7,386,036.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 201,041 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $44.57, for a total transaction of $8,960,397.37. Following the completion of the transaction, the chief executive officer now directly owns 2,216,810 shares in the company, valued at $98,803,221.70. The disclosure for this sale can be found here. Insiders have sold a total of 581,881 shares of company stock worth $25,722,709 over the last 90 days. Insiders own 0.71% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BSX. Massachusetts Financial Services Co. MA increased its holdings in shares of Boston Scientific by 68.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 82,659,471 shares of the medical equipment provider’s stock worth $3,194,787,000 after buying an additional 33,630,705 shares during the last quarter. FMR LLC increased its holdings in Boston Scientific by 19.8% in the 2nd quarter. FMR LLC now owns 103,305,355 shares of the medical equipment provider’s stock valued at $4,417,338,000 after purchasing an additional 17,054,254 shares during the last quarter. Amundi acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $268,761,000. Parnassus Investments CA increased its holdings in Boston Scientific by 70.7% in the 2nd quarter. Parnassus Investments CA now owns 15,112,760 shares of the medical equipment provider’s stock valued at $646,222,000 after purchasing an additional 6,259,424 shares during the last quarter. Finally, Holocene Advisors LP increased its holdings in Boston Scientific by 860.7% in the 1st quarter. Holocene Advisors LP now owns 4,971,939 shares of the medical equipment provider’s stock valued at $192,165,000 after purchasing an additional 4,454,432 shares during the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.

Shares of NYSE:BSX traded down $0.30 during mid-day trading on Friday, reaching $44.70. The stock had a trading volume of 4,332,876 shares, compared to its average volume of 7,826,610. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.55. The company has a market cap of $63.65 billion, a P/E ratio of 135.46, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. Boston Scientific has a 1 year low of $32.99 and a 1 year high of $46.28. The business’s 50 day moving average price is $44.51 and its 200 day moving average price is $42.58.

About Boston Scientific

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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

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