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What Analysts Think of Boston Scientific after Its Q1 Results

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Dec. 4 2020, Updated 10:53 a.m. ET

BSX’s price movements

On April 24, Boston Scientific (BSX) announced its first-quarter earnings results before the market opened. In the quarter, Boston Scientific reported revenue of $2.49 billion, up 7.8% YoY (year-over-year) on an operational basis, 6.3% YoY on an organic basis, and 4.8% YoY on a reported basis. The company failed to meet both its YoY reported revenue growth guidance of 6%–7% and its YoY organic revenue growth guidance of 7%–8%. It missed its consensus revenue estimate by $44.5 million.

In its first-quarter earnings press release, Boston Scientific reported generally accepted accounting principles EPS of $0.30, lower than its guidance of $0.32–0.33. It reported adjusted EPS of $0.35, which was in line with its guidance of $0.35–$0.36.

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Following its results, Boston Scientific closed at $35.44 on April 24, 1.25% lower than its previous closing price. The company was trading at $36.71 on April 25, 3.57% higher than its previous closing price, 31.51% higher than its 52-week low of $27.91, and 10.48% lower than its 52-week high of $41.00. The company’s market cap was $49.00 billion, and its PE, forward PE, price-to-sales, price-to-book, and price-to-cash ratios were 30.95x, 19.67x, 4.99x, 5.63x, and 335.61x, respectively.

Boston Scientific’s 14-day RSI (relative strength index) is currently 45.34. The company’s number of outstanding shares is 1.38 billion, while its short interest ratio is only 0.67%.

Analysts’ recommendations and target prices

Wall Street analysts expect an upside potential of 23.30% for Boston Scientific based on the company’s closing price on April 24. Analysts revised the company’s 12-month consensus target price upward from $42.22 in January to $44.02 in February and $44.07 in March but then lowered it to $43.70 in April.

Of the 24 analysts covering Boston Scientific, 15 have given it “strong buys,” seven have given it “buys,” and two have given it “holds.”

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