$3.00 Billion in Sales Expected for Boston Scientific Co. (NYSE:BSX) This Quarter

Wall Street brokerages expect Boston Scientific Co. (NYSE:BSX) to announce sales of $3.00 billion for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Boston Scientific’s earnings. The lowest sales estimate is $2.97 billion and the highest is $3.02 billion. Boston Scientific reported sales of $2.66 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.8%. The business is scheduled to announce its next earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that Boston Scientific will report full-year sales of $12.02 billion for the current year, with estimates ranging from $11.97 billion to $12.06 billion. For the next year, analysts forecast that the business will report sales of $12.93 billion, with estimates ranging from $12.72 billion to $13.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Boston Scientific.

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

Several research firms have commented on BSX. Credit Suisse Group upped their price target on shares of Boston Scientific from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Argus upped their price target on shares of Boston Scientific from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 7th. Morgan Stanley restated a “buy” rating and set a $53.00 price target on shares of Boston Scientific in a research report on Tuesday. Zacks Investment Research downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a report on Monday, August 2nd. Finally, Needham & Company LLC set a $42.74 price target on shares of Boston Scientific and gave the company a “hold” rating in a research note on Thursday, July 15th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $48.65.

Shares of BSX traded down $0.03 during trading hours on Friday, reaching $43.61. 160,409 shares of the company traded hands, compared to its average volume of 7,846,007. The stock has a market capitalization of $62.09 billion, a P/E ratio of 132.85, a P/E/G ratio of 2.93 and a beta of 0.88. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 0.55. Boston Scientific has a 12-month low of $32.99 and a 12-month high of $46.28. The business has a fifty day moving average price of $44.37 and a 200-day moving average price of $42.49.

In related news, CEO Michael F. Mahoney sold 201,041 shares of Boston Scientific stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $43.41, for a total transaction of $8,727,189.81. Following the sale, the chief executive officer now directly owns 2,081,822 shares in the company, valued at approximately $90,371,893.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jodi Euerle Eddy sold 728 shares of Boston Scientific stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $45.33, for a total transaction of $33,000.24. Following the completion of the transaction, the senior vice president now owns 20,419 shares in the company, valued at $925,593.27. The disclosure for this sale can be found here. Insiders sold a total of 598,331 shares of company stock worth $26,447,002 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. boosted its holdings in shares of Boston Scientific by 25.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,100 shares of the medical equipment provider’s stock valued at $90,000 after acquiring an additional 422 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Boston Scientific by 3.3% in the second quarter. Parametric Portfolio Associates LLC now owns 3,771,353 shares of the medical equipment provider’s stock valued at $161,263,000 after acquiring an additional 122,075 shares in the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at about $204,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Boston Scientific by 20.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 14,634 shares of the medical equipment provider’s stock valued at $626,000 after acquiring an additional 2,506 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Boston Scientific by 138.1% during the second quarter. Marshall Wace LLP now owns 974,801 shares of the medical equipment provider’s stock worth $41,682,000 after buying an additional 565,427 shares in the last quarter. Institutional investors own 89.80% of the company’s stock.

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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