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Boston Scientific's (BSX) Q3 Earnings In Line, Sales Top

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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 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 31 cents per share is in line with the Zacks Consensus Estimate.

Revenues: Boston Scientific posted revenues of $2.22 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.20 billion.

Key Stats: In the third-quarter 2017, Boston Scientific’s Cardiovascular segment revenues increased 4.1% to $857 million, while rhythm management segment’s revenue grew 1.5%, totaling $534 million. Also, revenues from the MedSurg segment improved 10.2% to $831 million.

Major Factors: Boston Scientific has posted impressive third quarter results by delivering revenue growth across all segments. Moreover, during the reported quarter, the company has received FDA approval for MRI labeling and announced the U.S. launch of the Resonate family of implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems. The company has also acquired Acquired Apama Medical, Inc. The company has also received CE Mark for the ACURATE neo Transapical Aortic Valve System. The company has raised its full year 2017 revenue outlook and also raised the lower end of the previously provided the adjusted EPS guidance of $1.23 to $1.27 per share to $1.24 to $1.27 per share.

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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