The mean price target for the shares of Boston Scientific Corporation (NYSE:BSX)is at $24.27 while the highest price target suggested by the analysts is $26.00 and low price target is $21.00. The mean price target is calculated keeping in view the consensus of 26 brokerage firms.
The company’s mean estimate for sales for the current quarter ending Jun 16 is 2.05B by 24 analysts. The means estimate of sales for the year ending Dec 16 is 8.17B by 27 analysts.
The average estimate of EPS for the current fiscal quarter for Boston Scientific Corporation (NYSE:BSX)stands at $0.27 while the EPS for the current year is fixed at $1.09 by 27.00 analysts
The next one year’s EPS estimate is set at 1.24 by 29.00 analysts while a year ago the analysts suggested the company’s EPS at $1.09. The analysts also projected the company’s long-term growth at 12.57% for the upcoming five years
In its latest quarter ended on 31 Mar 2016 , Boston Scientific Corporation (NYSE:BSX)reported earnings of $0.28. The posted earnings topped the analyst’s consensus by $0.04 with the surprise factor of 16.70%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Boston Scientific Corporation (NYSE:BSX) traded up +2.28% during trading on Friday, hitting $23.35 . The stock had a trading volume of 19.2 M shares. The firm has a 50 day moving average of $22.05 and a 200-day moving average of $19.08. The stock has a market cap of $31.64B. On Jun 9, 2016 the shares registered one year high at $23.35 and the one year low was seen on Aug 24, 2015.
Boston Scientific Corporation (NYSE:BSX) on June 8, 2016 announced a global restructuring program to build on the progress the company has made in executing long-term growth strategies and bringing differentiated value and innovation to patients and healthcare systems. The program is focused on developing global commercialization, technology and manufacturing capabilities in key growth markets, continuing implementation of the company’s plant network optimization strategy and expanding operational efficiencies in support of the company’s operating income margin goals.
Boston Scientific estimates that the program will reduce gross annual pre-tax operating expenses by approximately $115 million to $150 million by the end of 2020 as program benefits are recognized. The company expects to reinvest a substantial portion of the savings in strategic growth initiatives.
“We are taking these steps to build on our momentum and meet the challenges of affordable health care around the globe,” said Mike Mahoney, chief executive officer and chairman of the board, Boston Scientific. “We will continue to invest in strategic growth opportunities that enhance our reach, capabilities and efficiency to sustain our global competitiveness. These initiatives can help us deliver innovative solutions to more patients and enable profitable growth over the long term.”
While Boston Scientific expects some employee attrition and targeted headcount reductions to result from these restructuring initiatives, the company anticipates that its overall employee base will remain relatively unchanged upon completion of the restructuring program as new jobs are created in areas of growth and resources are deployed to support an expanding portfolio and growing global market needs.
Program implementation is anticipated to result in total pre-tax charges of approximately $175 million to $225 million. Several program activities will be initiated immediately and all activities are expected to be substantially completed by the end of 2018, subject to any employee representative consultative procedures required under local laws.
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