Boston Scientific (NYSE:BSX – Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.570-0.590 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion. Boston Scientific also updated its FY 2024 guidance to 2.290-2.340 EPS.
Boston Scientific Trading Up 0.5 %
Shares of NYSE:BSX traded up $0.34 during trading on Thursday, reaching $73.25. 3,370,091 shares of the company were exchanged, compared to its average volume of 6,497,581. The firm has a market capitalization of $107.47 billion, a PE ratio of 68.46, a P/E/G ratio of 2.42 and a beta of 0.78. The business’s fifty day simple moving average is $67.53 and its 200-day simple moving average is $60.28. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.
Boston Scientific (NYSE:BSX – Get Free Report) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates 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 last year, the company posted $0.45 earnings per share. On average, research analysts anticipate that Boston Scientific will post 2.25 EPS for the current year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on BSX
Insider Activity
In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by corporate 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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