Medical device company Boston Scientific (NYSE: BSX) will be reporting earnings this Wednesday before market hours. Here’s what you need to know.
Boston Scientific met analysts’ revenue expectations last quarter, reporting revenues of $5.29 billion, up 15.9% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ organic revenue estimates but a slight miss of analysts’ EPS guidance for next quarter estimates.
Is Boston Scientific a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Boston Scientific’s revenue to grow 11% year on year, slowing from the 20.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have 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.
Looking at Boston Scientific’s peers in the healthcare equipment and supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Neogen’s revenues decreased 4.4% year on year, beating analysts’ expectations by 3.4%, and Abbott Laboratories reported revenues up 7.8%, topping estimates by 1.3%. Neogen traded down 8.9% following the results while Abbott Laboratories was also down 4.7%.
Read our full analysis of Neogen’s results here and Abbott Laboratories’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 9% on average over the last month. Boston Scientific is down 11.8% during the same time and is heading into earnings with an average analyst price target of $96.66 (compared to the current share price of $61.34).
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