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Boston Scientific Corporation (BSX), headquartered in Marlborough, Massachusetts, develops, manufactures, and markets medical devices for use in various interventional medical specialties globally. With a market cap of $133.7 billion, the company’s products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, and more. The medTech giant is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Wednesday, Feb. 5.
Ahead of the event, analysts expect BSX to report a profit of $0.65 per share on a diluted basis, up 18.2% from $0.55 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect BSX to report EPS of $2.46, up 20% from $2.05 in fiscal 2023. Its EPS is expected to rise 12.6% year over year to $2.77 in fiscal 2025.
BSX stock has outperformed the S&P 500’s ($SPX) 27.2% gains over the past 52 weeks, with shares up 57% during this period. Similarly, it considerably outperformed the Health Care Select Sector SPDR Fund’s (XLV) marginal losses over the same time frame.
BSX's strong performance is driven by growth in its target markets, including MedSurg and Structural Heart lines, gaining traction globally for its next generation WATCHMAN products. Acquisitions and strong execution of core growth strategies are also contributing to its success. The company's Pain and Brain franchises are expected to gain traction, while its Electrophysiology arm continues to gain momentum. Moreover, BSX's operational sales are driven by strong demand for its diverse portfolio and new launches.
On Oct. 23, BSX shares closed down marginally after reporting its Q3 results. Its adjusted EPS of $0.63 exceeded Wall Street expectations of $0.58. The company’s revenue was $4.2 billion, exceeding Wall Street forecasts of $4 billion. For Q4, BSX expects its adjusted EPS to range from $0.64 to $0.66. The company expects full-year adjusted EPS to be between $2.45 and $2.47.
Analysts’ consensus opinion on BSX stock is bullish, with a “Strong Buy” rating overall. Out of 27 analysts covering the stock, 23 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and three give a “Hold.” BSX’s average analyst price target is $100.92, indicating a potential upside of 10.5% from the current levels.
