Boston Scientific Reports Record Revenue and Earnings, Beats Expectations
April 28, 2023
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Boston Scientific ($NYSE:BSX), a global leader in medical device innovation, reported record revenue and earnings this quarter. Their Non-GAAP Earnings Per Share (EPS) of $0.47 exceeded its expectations by $0.04 and their total revenue of $3.39 billion exceeded projections by $230 million. This marks the second consecutive quarter of positive year-over-year gains in both revenue and EPS. Their product portfolio includes pacemakers, drug-eluting stents, and catheters, as well as offerings in structural heart, neuromodulation, urology and pelvic health, and endoscopy. They are focused on improving patient outcomes, reducing costs for healthcare systems, and expanding access to care for patients worldwide.
Additionally, Boston Scientific is actively involved in community and charitable initiatives to strengthen the communities in which it operates. The impressive revenue and earnings growth indicates that the company’s strategy is paying off. Boston Scientific is well positioned to continue to drive innovation and capitalize on the rising demand for medical technology around the world.
Stock Price
On Wednesday, BOSTON SCIENTIFIC announced record revenue and earnings that beat Wall Street expectations. After trading higher throughout the day, the stock opened at $52.7 but ended the session at $51.1. This was the culmination of a strong quarter for the medical device manufacturing company, marking the highest quarterly revenues and earnings in Boston Scientific’s history. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Boston Scientific. More…
| Total Revenues | Net Income | Net Margin |
| 13.04k | 845 | 8.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Boston Scientific. More…
| Operations | Investing | Financing |
| 1.53k | -2.01k | -548 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Boston Scientific. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 32.47k | 14.9k | 12.23 |
Key Ratios Snapshot
Some of the financial key ratios for Boston Scientific are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | 11.3% | 12.9% |
| FCF Margin | ROE | ROA |
| 7.0% | 6.0% | 3.2% |
Analysis
At GoodWhale, we recently conducted an analysis of BOSTON SCIENTIFIC‘s fundamentals. Based on our Risk Rating, we determined that BOSTON SCIENTIFIC is a high risk investment in terms of financial and business aspects. Specifically, our analysis detected one risk warning within their income sheet. If you would like to take a closer look at our analysis, please register on goodwhale.com to access it. We hope that our analysis will help guide your investment decisions and ensure that you make informed decisions. More…
Peers
Boston Scientific Corp is one of the leading competitors in the medical device industry. Some of its main competitors are Medtronic PLC, Cyduct Diagnostics Inc, Guided Therapeutics Inc. Boston Scientific Corp has a wide range of products that cater to different markets. This gives the company a competitive advantage over its competitors.
– Medtronic PLC ($NYSE:MDT)
As of 2022, Medtronic PLC has a market cap of 111.05B and a Return on Equity of 7.49%. The company is a medical device company that manufactures and sells a variety of medical devices, including pacemakers, defibrillators, and insulin pumps. Medtronic PLC is headquartered in Dublin, Ireland.
– Cyduct Diagnostics Inc ($OTCPK:CYDX)
Cyduct Diagnostics Inc is a publicly traded company that provides diagnostic testing services. The company’s market cap as of 2022 was 349.68k. The company offers a variety of services including blood tests, urine tests, and other diagnostic tests. Cyduct Diagnostics Inc is headquartered in the United States.
– Guided Therapeutics Inc ($OTCPK:GTHP)
Guided Therapeutics, Inc., a molecular diagnostics company, focuses on the development and commercialization of molecularly targeted photodynamic therapies for the treatment of pre-cancerous lesions and cancer. The company’s products in development include Endocavity Probe, a disposable light emitting diode probe that is inserted into the body cavity for the detection and treatment of diseases; and Esophageal Probe, a light emitting diode probe to be used with the company’s Levulan Kerastick to treat Barrett’s esophagus. It also develops Gynecological Probe, a light emitting diode probe to be used with the company’s Levulan Kerastick to treat cervical intraepithelial neoplasia. The company was formerly known as Light Touch Medical, Inc. and changed its name to Guided Therapeutics, Inc. in November 2009. Guided Therapeutics, Inc. was founded in 1998 and is based in Atlanta, Georgia.
Summary
Boston Scientific reported better-than-expected results for its quarterly earnings and revenue. The company reported non-GAAP earnings per share of $0.47, which was $0.04 higher than the consensus analyst estimate. Its revenue also exceeded expectations, coming in at $3.39 billion and beating the consensus estimate by $230 million. The strong performance was mainly driven by growth in its medical devices segment, which saw an increase in sales in U.S. and international markets.
Boston Scientific also saw an increase in sales of its coronary and peripheral vascular device products. Overall, the company’s quarterly results demonstrate a positive outlook for future growth.
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