Zacks: Brokerages Expect Boston Scientific Co. (BSX) Will Announce Quarterly Sales of $2.41 Billion
Brokerages predict that Boston Scientific Co. (NYSE:BSX) will announce $2.41 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have made 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 firm is scheduled to report its next 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 fiscal year, with estimates ranging from $9.83 billion to $9.88 billion. For the next year, analysts anticipate that the business will post sales of $10.58 billion, with estimates ranging from $10.44 billion to $10.69 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Boston Scientific.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year.
Shares of BSX traded down $0.29 during midday trading on Monday, hitting $38.34. 5,505,500 shares of the company traded hands, compared to its average volume of 7,563,219. Boston Scientific has a one year low of $24.54 and a one year high of $39.13. The stock has a market cap of $53.39 billion, a PE ratio of 30.45, a P/E/G ratio of 2.68 and a beta of 0.63. The company has a quick ratio of 0.60, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.
In related news, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $33.66, for a total value of $168,300.00. Following the transaction, the executive vice president now directly owns 29,201 shares in the company, valued at $982,905.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey B. Mirviss sold 33,512 shares of the company’s stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $34.00, for a total transaction of $1,139,408.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,680 shares of company stock worth $7,619,335. 0.73% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of BSX. Systematic Financial Management LP increased its position in shares of Boston Scientific by 51.3% in the first quarter. Systematic Financial Management LP now owns 18,000 shares of the medical equipment provider’s stock worth $492,000 after purchasing an additional 6,100 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Boston Scientific by 5.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 38,234 shares of the medical equipment provider’s stock worth $1,044,000 after purchasing an additional 2,143 shares during the last quarter. Brinker Capital Inc. boosted its stake in Boston Scientific by 16.7% in the first quarter. Brinker Capital Inc. now owns 31,096 shares of the medical equipment provider’s stock worth $850,000 after buying an additional 4,442 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Boston Scientific by 23.2% in the first quarter. Natixis Advisors L.P. now owns 145,408 shares of the medical equipment provider’s stock worth $3,973,000 after buying an additional 27,422 shares in the last quarter. Finally, Norinchukin Bank The boosted its stake in Boston Scientific by 14.7% in the first quarter. Norinchukin Bank The now owns 125,984 shares of the medical equipment provider’s stock worth $3,442,000 after buying an additional 16,194 shares in the last quarter. Institutional investors own 90.89% 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 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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