Shares of medical devices maker Boston Scientific (NYSE:BSX) are ticking upward today after the company posted better-than-expected first-quarter numbers.
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Revenue rose 11.9% year-over-year to $3.39 billion, outperforming expectations by $230 million. EPS at $0.47 too came in ahead of expectations by $0.04. During the quarter, BSX saw double-digit growth across MedSurg and Cardiovascular segments. At the same time, the company saw healthy gains across all of its major geographies.
Looking ahead, for the year 2023, BSX expects net sales to rise in the range of 8.5% and 10.5%. EPS is seen landing between $1.90 and $1.96. Further, sales growth for the second quarter is anticipated between 6.5% and 8.5%. EPS is expected to be between $0.48 and $0.50 during the period.
Overall, the Street has a $55.22 consensus price target on BSX, implying a potential upside of 8% in the stock. That’s after a nearly 14% runup in BSX shares over the past year.
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