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.

In related news, EVP David A. Pierce sold 2,170 shares of Boston Scientific stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $38.00, for a total transaction of $82,460.00. Following the completion of the transaction, the executive vice president now owns 9,401 shares of the company’s stock, valued at $357,238. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

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

Earnings History for Boston Scientific (NYSE:BSX)

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