Medical device company Boston Scientific (NYSE: BSX) will be reporting results this Wednesday before market open. Here’s what to look for.
Boston Scientific beat analysts’ revenue expectations last quarter, reporting revenues of $5.44 billion, up 7.5% 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 be flat year on year, slowing from the 20.3% 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 Q3 results, giving us a hint as to what we can expect. Neogen delivered year-on-year revenue growth of 6.5%, beating analysts’ expectations by 7%, and Abbott Laboratories reported revenues up 14.5%, in line with consensus estimates. Neogen traded down 2.3% following the results while Abbott Laboratories’s stock price was unchanged.
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 3.1% on average over the last month. Boston Scientific is up 3.2% during the same time and is heading into earnings with an average analyst price target of $57.82 (compared to the current share price of $45.51).
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