On Wednesday, Boston Scientific Corporation ( BSX ) reported third-quarter revenues of $4.21 billion, beating the consensus estimate of $4.04 billion.

Sales increased 19.4% on a reported basis, compared to the company's guidance range of 13%-15%, and 19.5% on an operational basis, 18.2% on an organic basis, compared to the company's guidance range of 13%-15%.

The company earned an adjusted EPS of $0.63, beating the consensus of $0.59 and the management guidance of $0.57-$0.59.

The company's cardiovascular segment generated sales of $2.73 billion, rising 25% (25.1% operationally and 24.6% organically).

Boston Scientific ( BSX ) reported 29.2% growth for cardiology products and 11.8% growth in peripheral interventions.

MedSurg segment revenues increased 10.3% to $1.48 billion (10.4% operationally and 7.7% organically).

Neuromodulation led the way with a 17% increase. Urology (10.3%) and Endoscopy (7.8%) followed.

Outlook: Boston Scientific ( BSX ) forecasts net sales growth for 2024 of approximately 16.5% on a reported basis and 15% on an organic basis, compared to prior guidance of 13.5%-14.5% and 13%-14%, respectively.

Boston Scientific ( BSX ) estimates 2024 adjusted EPS of $2.45-$2.47, compared to prior guidance of $2.38-$2.42 and the consensus of $2.41.

For the fourth quarter, the company estimates net sales growth of approximately 16.5%-18.5% on a reported basis and 14%-16% on an organic basis.

The company forecasts adjusted EPS of $0.64-$0.66 versus consensus of $0.64.

Boston Scientific Stock Prediction For 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Boston Scientific ( BSX ) have an average 1-year price target of $91.47, representing an expected upside of 7.71%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Boston Scientific ( BSX ), while 17 analysts have bullish ratings. The street high price target from B of A Securities is $100.0, while the street low from Deutsche Bank is $78.0.

Price Action: BSX stock is down 5.31% at $83.34 at the last check on Wednesday.

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