We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Boston Scientific Gets a Boost From MedSurg Arm Amid Coronavirus
Read MoreHide Full Article
On Oct 13, we issued an updated research report on Boston Scientific Corporation (BSX - Free Report) . The company’s recent acquisitions added various products (though many are under development) with immense potential to its portfolio. The stock currently carries a Zacks Rank #2 (Buy).
Although a higher mix of non-deferrable procedures within MedSurg business already induced a significant decline in trends through the last few months within both Urology and Pelvic Health, and Endoscopy, Boston Scientific expects these to recover more rapidly than the rest of its business segments. More precisely, within urology/pelvic health, sales from the company’s stone franchise and SpaceOAR products are showing better resilience. In the last reported quarter, there was a faster-than-expected rebound at prosthetic urology and pelvic floor franchise.
Within Endoscopy, the company noted that recovery has already started since June. Meanwhile, per data, second-quarter sales declined 26% year over year. However, in June, the metric dropped only 10% from the year-ago period. Further, this improvement trend continued into July as endoscopy business has a favorable mix of both relatively high acuity and outpatient side of service.
Following the controlled launch in Europe, Boston Scientific recently began a soft commercial launch of LOTUS Edge Aortic Valve System in the United States. Per the latest update, the LOTUS Edge controlled launches are going extremely well. Through the second quarter, LOTUS EDGE continued to see a strong utilization within the existing accounts.
On the flip side, Boston Scientific has underperformed its industry year to date. The stock has lost 7.2% agaisnt the 1.6% rise of the industry.
The ongoing economic doldrums in the wake of the global coronavirus outbreak are also slashing the stock price largely. The global supply-chain disruption due to this pandemic is causing a significant drop in the company's revenues as well. In the second quarter, Boston Scientific delivered disappointing year-over-year earnings and revenue performances.
Sales at each of its core business segments and geographies were significantly down in the reported quarter, affected by lower demand for non-COVID-19 healthcare products and elective procedures. Despite the company’s reduction in operational expenses, both the margins contracted massively on huge revenue loss.
The uncertainties regarding the duration and impact of the coronavirus pandemic on the company’s overall business had earlier compelled Boston Scientific to suspend its previously-issued 2020 financial guidance. This time too, the company could not provide any update on its full-year outlook.
Other Key Picks
A few other top-ranked stocks from the broader medical space are QIAGEN N.V. (QGEN - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and Abbott Laboratories (ABT - Free Report) .
Thermo Fisher’s long-term earnings growth rate is estimated at 15.5%. It currently carries a Zacks Rank of 2.
Abbott’s long-term earnings growth rate is estimated at 11%. The company is presently a Zacks #2 Ranked player.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Image: Bigstock
Boston Scientific Gets a Boost From MedSurg Arm Amid Coronavirus
On Oct 13, we issued an updated research report on Boston Scientific Corporation (BSX - Free Report) . The company’s recent acquisitions added various products (though many are under development) with immense potential to its portfolio. The stock currently carries a Zacks Rank #2 (Buy).
Although a higher mix of non-deferrable procedures within MedSurg business already induced a significant decline in trends through the last few months within both Urology and Pelvic Health, and Endoscopy, Boston Scientific expects these to recover more rapidly than the rest of its business segments. More precisely, within urology/pelvic health, sales from the company’s stone franchise and SpaceOAR products are showing better resilience. In the last reported quarter, there was a faster-than-expected rebound at prosthetic urology and pelvic floor franchise.
Within Endoscopy, the company noted that recovery has already started since June. Meanwhile, per data, second-quarter sales declined 26% year over year. However, in June, the metric dropped only 10% from the year-ago period. Further, this improvement trend continued into July as endoscopy business has a favorable mix of both relatively high acuity and outpatient side of service.
Boston Scientific Corporation Price
Boston Scientific Corporation price | Boston Scientific Corporation Quote
Following the controlled launch in Europe, Boston Scientific recently began a soft commercial launch of LOTUS Edge Aortic Valve System in the United States. Per the latest update, the LOTUS Edge controlled launches are going extremely well. Through the second quarter, LOTUS EDGE continued to see a strong utilization within the existing accounts.
On the flip side, Boston Scientific has underperformed its industry year to date. The stock has lost 7.2% agaisnt the 1.6% rise of the industry.
The ongoing economic doldrums in the wake of the global coronavirus outbreak are also slashing the stock price largely. The global supply-chain disruption due to this pandemic is causing a significant drop in the company's revenues as well. In the second quarter, Boston Scientific delivered disappointing year-over-year earnings and revenue performances.
Sales at each of its core business segments and geographies were significantly down in the reported quarter, affected by lower demand for non-COVID-19 healthcare products and elective procedures. Despite the company’s reduction in operational expenses, both the margins contracted massively on huge revenue loss.
The uncertainties regarding the duration and impact of the coronavirus pandemic on the company’s overall business had earlier compelled Boston Scientific to suspend its previously-issued 2020 financial guidance. This time too, the company could not provide any update on its full-year outlook.
Other Key Picks
A few other top-ranked stocks from the broader medical space are QIAGEN N.V. (QGEN - Free Report) , Thermo Fisher Scientific Inc. (TMO - Free Report) and Abbott Laboratories (ABT - Free Report) .
QIAGEN’s long-term earnings growth rate is estimated at 17.2%. It currently flaunts a Zacks Rank #1. (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Thermo Fisher’s long-term earnings growth rate is estimated at 15.5%. It currently carries a Zacks Rank of 2.
Abbott’s long-term earnings growth rate is estimated at 11%. The company is presently a Zacks #2 Ranked player.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>