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Boston Scientific (BSX) Tops Revenue, Earnings in Line
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MA-based Boston Scientific Corporation (BSX - Free Report) is a leading global manufacturer of medical devices that are used in a wide range of interventional medical specialties. Boston Scientific technologies address a wide range of health conditions through 7 business units that are organized into 3 global reporting segments: Rhythm Management, Cardiovascular and MedSurg.
Currently, Boston Scientific has a Zacks Rank #2 (Buy) but that could change following its third-quarter 2016 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at 27 cents per share over the last 30 days. Boston Scientific’s adjusted earnings of 27 cents per share came in line with this estimate.
Revenues: Boston Scientific posted revenues of $2.105 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.065 billion.
Key Stats: Boston Scientific’s Cardiovascular segment revenues increased 13% at Constant exchange rate (CER) to $825 million, while Rhythm Management segment’s revenue grew 4% at CER with the revenue amounting to $527 million. On the other hand, revenues from MedSurg segment improved 15% at CER to $753 million.
Major Factors: Buoyed by its strong third-quarter performance Boston Scientific has raised its 2016 revenue as well as adjusted EPS guidance. Moreover, the company received CE mark for the LOTUS Edge Valve System, and FDA approval for the EMBLEM MRI Subcutaneous Implantable Defibrillator (S-ICD) System, as well as magnetic resonance (MR) conditional labeling for all previously implanted EMBLEM S-ICD Systems.
Stock Price: Following the earnings release, shares of Boston Scientific increased 2.5% in the pre-market trading session. This reflects investors’ optimism on the results. However, the price movement during the full trading session will show whether the results have affected the market.
Check back later for our full write up on this Boston Scientific earnings report later!
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Boston Scientific (BSX) Tops Revenue, Earnings in Line
MA-based Boston Scientific Corporation (BSX - Free Report) is a leading global manufacturer of medical devices that are used in a wide range of interventional medical specialties. Boston Scientific technologies address a wide range of health conditions through 7 business units that are organized into 3 global reporting segments: Rhythm Management, Cardiovascular and MedSurg.
Currently, Boston Scientific has a Zacks Rank #2 (Buy) but that could change following its third-quarter 2016 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at 27 cents per share over the last 30 days. Boston Scientific’s adjusted earnings of 27 cents per share came in line with this estimate.
BOSTON SCIENTIF Price and EPS Surprise
BOSTON SCIENTIF Price and EPS Surprise | BOSTON SCIENTIF Quote
Revenues: Boston Scientific posted revenues of $2.105 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.065 billion.
Key Stats: Boston Scientific’s Cardiovascular segment revenues increased 13% at Constant exchange rate (CER) to $825 million, while Rhythm Management segment’s revenue grew 4% at CER with the revenue amounting to $527 million. On the other hand, revenues from MedSurg segment improved 15% at CER to $753 million.
Major Factors: Buoyed by its strong third-quarter performance Boston Scientific has raised its 2016 revenue as well as adjusted EPS guidance. Moreover, the company received CE mark for the LOTUS Edge Valve System, and FDA approval for the EMBLEM MRI Subcutaneous Implantable Defibrillator (S-ICD) System, as well as magnetic resonance (MR) conditional labeling for all previously implanted EMBLEM S-ICD Systems.
Stock Price: Following the earnings release, shares of Boston Scientific increased 2.5% in the pre-market trading session. This reflects investors’ optimism on the results. However, the price movement during the full trading session will show whether the results have affected the market.
Check back later for our full write up on this Boston Scientific earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>