Medical device company Boston Scientific (NYSE:BSX) will be announcing earnings results this Wednesday before the bell. Here’s what you need to know.
Boston Scientific beat analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $5.07 billion, up 20.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and revenue guidance for next quarter topping analysts’ expectations.
Is Boston Scientific a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Boston Scientific’s revenue to grow 15.6% year on year to $5.27 billion, slowing from the 22.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.78 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Boston Scientific has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.2% on average.
Looking at Boston Scientific’s peers in the medical devices & supplies - diversified segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 2.8% year on year, beating analysts’ expectations by 7.2%, and Stryker reported revenues up 11.4%, topping estimates by 0.8%. Neogen traded up 30.4% following the results while Stryker was also up 4.3%.
Read our full analysis of Neogen’s results here and Stryker’s results here.
Investors in the medical devices & supplies - diversified segment have had steady hands going into earnings, with share prices flat over the last month. Boston Scientific is down 3.7% during the same time and is heading into earnings with an average analyst price target of $124.41 (compared to the current share price of $92.39).
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