SunTrust Banks Weighs in on Boston Scientific Corporation’s FY2019 Earnings (BSX)

Boston Scientific Corporation (NYSE:BSX) – Research analysts at SunTrust Banks increased their FY2019 earnings estimates for shares of Boston Scientific Corporation in a report released on Monday. SunTrust Banks analyst B. Nudell now anticipates that the medical equipment provider will post earnings per share of $1.59 for the year, up from their previous forecast of $1.58. SunTrust Banks also issued estimates for Boston Scientific Corporation’s FY2020 earnings at $1.77 EPS.

Boston Scientific Corporation (NYSE:BSX) last released its earnings results on Thursday, April 27th. The medical equipment provider reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Boston Scientific Corporation had a return on equity of 23.45% and a net margin of 5.07%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis.

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A number of other research firms have also recently weighed in on BSX. Goldman Sachs Group, Inc. (The) initiated coverage on Boston Scientific Corporation in a report on Tuesday, May 16th. They set a “neutral” rating and a $28.00 price target on the stock. Oppenheimer Holdings Inc. set a $27.00 price target on Boston Scientific Corporation and gave the company a “hold” rating in a report on Friday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target (up previously from $29.00) on shares of Boston Scientific Corporation in a report on Thursday, April 27th. Guggenheim reaffirmed a “buy” rating on shares of Boston Scientific Corporation in a report on Wednesday, April 12th. Finally, Stifel Nicolaus lifted their price target on Boston Scientific Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, April 28th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Boston Scientific Corporation currently has a consensus rating of “Buy” and a consensus target price of $29.17.

Boston Scientific Corporation (NYSE BSX) traded up 0.629% during trading on Wednesday, reaching $27.985. The company’s stock had a trading volume of 13,678,726 shares. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $28.51. The firm has a 50 day moving average of $27.08 and a 200 day moving average of $24.71. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 89.696 and a beta of 1.05. Boston Scientific Corporation also saw some unusual options trading on Monday. Stock traders acquired 10,633 call options on the company. This is an increase of approximately 809% compared to the average volume of 1,170 call options.

Large investors have recently modified their holdings of the stock. Guardian Life Insurance Co. of America raised its stake in shares of Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 49 shares during the period. First Personal Financial Services raised its stake in shares of Boston Scientific Corporation by 0.9% in the first quarter. First Personal Financial Services now owns 9,107 shares of the medical equipment provider’s stock worth $226,000 after buying an additional 80 shares during the period. Cleararc Capital Inc. raised its stake in shares of Boston Scientific Corporation by 0.8% in the first quarter. Cleararc Capital Inc. now owns 33,322 shares of the medical equipment provider’s stock worth $829,000 after buying an additional 251 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 338 shares during the period. Finally, Checchi Capital Advisers LLC raised its stake in shares of Boston Scientific Corporation by 2.6% in the first quarter. Checchi Capital Advisers LLC now owns 13,553 shares of the medical equipment provider’s stock worth $337,000 after buying an additional 349 shares during the period. 92.04% of the stock is owned by institutional investors.

In other Boston Scientific Corporation news, EVP Michael P. Phalen sold 34,773 shares of Boston Scientific Corporation stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $26.00, for a total transaction of $904,098.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Bradley Sorenson sold 2,950 shares of Boston Scientific Corporation stock in a transaction on Monday, April 10th. The shares were sold at an average price of $24.66, for a total transaction of $72,747.00. Following the sale, the senior vice president now directly owns 20,980 shares of the company’s stock, valued at approximately $517,366.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,871 shares of company stock worth $3,665,985. Corporate insiders own 0.74% of the company’s stock.

Boston Scientific Corporation Company Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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

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