-$0.05 EPS Expected for Boston Scientific Co. (NYSE:BSX) This Quarter

Wall Street analysts expect that Boston Scientific Co. (NYSE:BSX) will announce ($0.05) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Boston Scientific’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.22). Boston Scientific reported earnings per share of $0.39 in the same quarter last year, which would suggest a negative year over year growth rate of 112.8%. The company is expected to announce its next quarterly earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that Boston Scientific will report full-year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.45 to $1.21. For the next fiscal year, analysts forecast that the firm will post earnings of $1.66 per share, with EPS estimates ranging from $1.29 to $1.81. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Boston Scientific.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 29th. The medical equipment provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). Boston Scientific had a net margin of 39.75% and a return on equity of 18.24%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company earned $0.35 earnings per share. Boston Scientific’s quarterly revenue was up 2.0% compared to the same quarter last year.

BSX has been the subject of a number of analyst reports. Wells Fargo & Co increased their price target on Boston Scientific from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. UBS Group cut their price objective on Boston Scientific from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $58.00 price target on shares of Boston Scientific in a report on Thursday, February 6th. Finally, Argus increased their price target on shares of Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and three have assigned a strong buy rating to the stock. Boston Scientific currently has an average rating of “Buy” and a consensus target price of $44.52.

In other Boston Scientific news, EVP David A. Pierce sold 14,793 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $38.00, for a total value of $562,134.00. Following the completion of the sale, the executive vice president now owns 15,597 shares of the company’s stock, valued at $592,686. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of BSX. Wealth Quarterback LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth about $10,113,711,000. State Street Corp raised its position in shares of Boston Scientific by 3.3% during the 1st quarter. State Street Corp now owns 62,223,383 shares of the medical equipment provider’s stock worth $2,030,349,000 after purchasing an additional 1,967,227 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Boston Scientific by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 42,652,679 shares of the medical equipment provider’s stock worth $1,391,757,000 after purchasing an additional 6,714,969 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Boston Scientific by 9.8% during the 1st quarter. Janus Henderson Group PLC now owns 42,569,924 shares of the medical equipment provider’s stock worth $1,389,060,000 after purchasing an additional 3,789,230 shares during the last quarter. Finally, Viking Global Investors LP raised its position in shares of Boston Scientific by 72.1% during the 1st quarter. Viking Global Investors LP now owns 31,816,197 shares of the medical equipment provider’s stock worth $1,038,163,000 after purchasing an additional 13,324,535 shares during the last quarter. 90.10% of the stock is owned by hedge funds and other institutional investors.

BSX stock traded down $0.49 during trading on Thursday, reaching $37.42. The company’s stock had a trading volume of 6,797,032 shares, compared to its average volume of 11,224,413. Boston Scientific has a 1 year low of $24.10 and a 1 year high of $46.62. The company has a quick ratio of 0.80, a current ratio of 1.21 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $52.53 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The company’s fifty day moving average is $36.61 and its 200-day moving average is $39.40.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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