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 #4 (Sell) but that could change following its second-quarter 2017 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 31 cents per share over the last 30 days. Boston Scientific’s adjusted earnings of 32 cents per share surpassed the Zacks Consensus Estimate by 3.2%.
Revenues: BostonScientific posted revenues of $2.25 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.21 billion.
Key Stats: In the second-quarter 2017, Boston Scientific’s Cardiovascular segment revenues increased 4.7% to $876 million, while rhythm management segment’s revenue grew 1.8%, totaling $547 million. On the other hand, revenues from the MedSurg segment improved 10.9% to $834 million.
Major Factors: Boston Scientific has posted impressive second quarter results by delivering revenue growth across all segments. Moreover, during the reported quarter, the company has closed the acquisition of Symetis, a privately-held Swiss structural heart company. Also, the company has won FDA nod for the RESONATE family of implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems. The company has raised its full year 2017 outlook for revenue and adjusted earnings.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Boston Scientific earnings report later!
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