Boston Scientific (NYSE:BSX – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.290-2.340 for the period, compared to the consensus EPS estimate of 2.250. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.6 billion. Boston Scientific also updated its FY24 guidance to $2.29-2.34 EPS.
Boston Scientific Trading Up 5.7 %
NYSE BSX traded up $3.92 during trading hours on Wednesday, hitting $72.91. 14,206,418 shares of the company’s stock were exchanged, compared to its average volume of 6,540,234. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market capitalization of $106.97 billion, a P/E ratio of 68.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The business’s 50 day moving average is $67.39 and its 200-day moving average is $60.19. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39.
Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same period in the prior year, the company earned $0.45 EPS. As a group, analysts anticipate that Boston Scientific will post 2.25 EPS for the current fiscal year.
Wall Street Analyst Weigh In
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Insider Activity at Boston Scientific
In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 in the last ninety days. 0.50% of the stock is currently owned by insiders.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.
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