Q4 2022 EPS Estimates for Boston Scientific Co. (NYSE:BSX) Cut by Analyst

Boston Scientific Co. (NYSE:BSXGet Rating) – Oppenheimer reduced their Q4 2022 earnings per share (EPS) estimates for Boston Scientific in a note issued to investors on Thursday, July 28th. Oppenheimer analyst S. Lichtman now forecasts that the medical equipment provider will post earnings per share of $0.49 for the quarter, down from their prior forecast of $0.50. The consensus estimate for Boston Scientific’s current full-year earnings is $1.76 per share. Oppenheimer also issued estimates for Boston Scientific’s FY2023 earnings at $1.95 EPS.

Several other equities research analysts have also recently issued reports on BSX. Canaccord Genuity Group reduced their target price on Boston Scientific from $51.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Wolfe Research started coverage on Boston Scientific in a research report on Tuesday, July 5th. They issued an “outperform” rating and a $43.00 price target for the company. Truist Financial dropped their price target on Boston Scientific from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Finally, Raymond James restated a “maintains” rating on shares of Boston Scientific in a research report on Thursday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.82.

Boston Scientific Trading Down 0.3 %

Shares of BSX stock opened at $41.05 on Monday. Boston Scientific has a 12-month low of $34.98 and a 12-month high of $47.49. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $38.22 and its 200-day moving average price is $41.37. The stock has a market capitalization of $58.68 billion, a price-to-earnings ratio of 77.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83.

Boston Scientific (NYSE:BSXGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Boston Scientific had a return on equity of 14.51% and a net margin of 6.65%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share.

Institutional Investors Weigh In On Boston Scientific

Hedge funds have recently modified their holdings of the company. Tekla Capital Management LLC raised its position in shares of Boston Scientific by 39.7% during the 2nd quarter. Tekla Capital Management LLC now owns 795,215 shares of the medical equipment provider’s stock worth $29,638,000 after purchasing an additional 225,817 shares during the last quarter. Single Point Partners LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth about $1,596,000. Crossmark Global Holdings Inc. raised its position in shares of Boston Scientific by 0.3% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 93,176 shares of the medical equipment provider’s stock worth $3,472,000 after purchasing an additional 280 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Boston Scientific by 0.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 645,916 shares of the medical equipment provider’s stock worth $24,073,000 after purchasing an additional 3,639 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Boston Scientific by 19.9% during the 2nd quarter. D.A. Davidson & CO. now owns 10,029 shares of the medical equipment provider’s stock worth $374,000 after purchasing an additional 1,665 shares during the last quarter. 90.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of the company’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $38.00, for a total value of $285,000.00. Following the sale, the executive vice president now directly owns 132,413 shares of the company’s stock, valued at $5,031,694. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 22,500 shares of company stock valued at $865,725 over the last ninety days. 0.71% of the stock is currently owned by insiders.

Boston Scientific Company Profile

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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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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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