Medical device company Boston Scientific (NYSE: BSX) will be reporting earnings this Wednesday morning. Here’s what to expect.
Boston Scientific beat analysts’ revenue expectations last quarter, reporting revenues of $5.20 billion, up 11.6% year on year. It was a softer quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly and a miss of analysts’ full-year EPS guidance 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 5.9% year on year, slowing from the 22.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. Abbott Laboratories delivered year-on-year revenue growth of 13%, beating analysts’ expectations by 0.7%, and Intuitive Surgical reported revenues up 18.5%, topping estimates by 2.5%. Abbott Laboratories traded up 12.8% following the results while Intuitive Surgical was down 14.1%.
Read our full analysis of Abbott Laboratories’s results here and Intuitive Surgical’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Boston Scientific is up 4.6% during the same time and is heading into earnings with an average analyst price target of $72.25 (compared to the current share price of $45.55).
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