Boston Scientific (NYSE:BSX – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.29-2.34 for the period, compared to the consensus estimate of $2.26. The company issued revenue guidance of +11-13% to ~$15.8-16.1 billion, compared to the consensus revenue estimate of $15.59 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.
Boston Scientific Stock Performance
BSX opened at $68.99 on Wednesday. The company’s 50 day moving average is $67.39 and its 200 day moving average is $60.19. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market cap of $101.22 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 2.38 and a beta of 0.78. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $69.21.
Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $0.45 earnings per share. On average, equities research analysts predict that Boston Scientific will post 2.25 EPS for the current year.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on BSX
Insider Buying and Selling
In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $66.35, for a total value of $463,322.05. Following the sale, the executive vice president now directly owns 53,788 shares in the company, valued at $3,568,833.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,979 shares of company stock worth $3,418,529. Corporate insiders own 0.50% 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 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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