Boston Scientific (NYSE:BSX) Releases Earnings Results, Beats Estimates By $0.12 EPS
Boston Scientific (NYSE:BSX) posted its earnings results on Wednesday. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12, MarketWatch Earnings reports. Boston Scientific had a net margin of 39.18% and a return on equity of 13.68%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. Boston Scientific’s quarterly revenue was down 23.9% compared to the same quarter last year.
NYSE BSX traded down $0.37 during mid-day trading on Friday, reaching $38.57. 7,060,358 shares of the stock were exchanged, compared to its average volume of 8,820,205. Boston Scientific has a one year low of $24.10 and a one year high of $46.62. The stock has a 50 day simple moving average of $36.11 and a 200-day simple moving average of $37.19. The stock has a market cap of $53.97 billion, a P/E ratio of 13.68, a P/E/G ratio of 3.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.21 and a quick ratio of 0.80.
Several research firms recently weighed in on BSX. SunTrust Banks dropped their price objective on shares of Boston Scientific from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Morgan Stanley boosted their price objective on shares of Boston Scientific from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. BTIG Research restated a “buy” rating and issued a $44.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 29th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Boston Scientific in a research report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on shares of Boston Scientific from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.71.
About Boston Scientific
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.
Further Reading: Dead Cat Bounce
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.