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Boston Scientific (BSX) Beats on Q1 Earnings and Revenues

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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 and Neuro, Cardiovascular and MedSurg.

Currently, Boston Scientific has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2018 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: Boston Scientific’s adjusted earnings of 33 cents per share surpasses the Zacks Consensus Estimate of 31 cents per share.

Revenues: Boston Scientific posted revenues of $2.38 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.34 billion.

Key Stats: In the first-quarter 2018, Boston Scientific’s Cardiovascular segment revenues increased 5.2% to $933 million, while Rhythm and Neuro segment’s revenue grew 6.4%, totaling $736 million. Also, revenues from the MedSurg segment improved 7.4% to $711 million.

Boston Scientific Corporation Price and EPS Surprise

Major Factors: Boston Scientific has posted impressive first quarter results by delivering revenue growth across all segments. Moreover, the company important clinical milestones for products like Ranger Drug Coated Balloon and WATCHMAN Left Atrial Appendage Closure (LAAC) Device. The company has also issued guidance for second quarter 2018 and raised full-year 2018 guidance.

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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