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Boston Scientific (BSX): Beats on Q1 Sales, Misses Earnings
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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 #4 (Sell) but that could change following its first-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 30 cents per share over the last 30 days. Boston Scientific’s adjusted earnings of 29 cents per share missed the Zacks Consensus Estimate by 3.3%.
Revenues: BostonScientific posted revenues of $2.16 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.08 billion.
Boston Scientific Corporation Price and EPS Surprise
Key Stats: In the first-quarter 2017, Boston Scientific’s Cardiovascular segment revenues increased 7.7% to $851 million, while rhythm management segment’s revenue grew 7.1%, totaling $527 million. On the other hand, revenues from the MedSurg segment improved 14.7% to $782 million.
Major Factors: Boston Scientific has posted impressive first quarter results by delivering revenue growth in all regions and across all segments. Moreover, during the reported quarter, the company entered into a definitive agreement to acquire Symetis SA, a Swiss structural heart organization for minimally-invasive transcatheter aortic valve implantation devices for $435 million in cash. Furthermore, Boston Scientific also announced that National Institute for Health and Care Excellence (NICE) has recommended its cardiac resynchronization therapy defibrillators (CRT-D) with EnduraLife Battery Technology for treating patients with heart failure. In the first quarter, the company has also made significant regulatory progress in Europe with the receipt of CE Mark for its newly launched RESONATE platform.
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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Boston Scientific (BSX): Beats on Q1 Sales, Misses Earnings
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 first-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 30 cents per share over the last 30 days. Boston Scientific’s adjusted earnings of 29 cents per share missed the Zacks Consensus Estimate by 3.3%.
Revenues: BostonScientific posted revenues of $2.16 billion, comfortably beating the Zacks Consensus Estimate for revenues of $2.08 billion.
Boston Scientific Corporation Price and EPS Surprise
Boston Scientific Corporation Price and EPS Surprise | Boston Scientific Corporation Quote
Key Stats: In the first-quarter 2017, Boston Scientific’s Cardiovascular segment revenues increased 7.7% to $851 million, while rhythm management segment’s revenue grew 7.1%, totaling $527 million. On the other hand, revenues from the MedSurg segment improved 14.7% to $782 million.
Major Factors: Boston Scientific has posted impressive first quarter results by delivering revenue growth in all regions and across all segments. Moreover, during the reported quarter, the company entered into a definitive agreement to acquire Symetis SA, a Swiss structural heart organization for minimally-invasive transcatheter aortic valve implantation devices for $435 million in cash. Furthermore, Boston Scientific also announced that National Institute for Health and Care Excellence (NICE) has recommended its cardiac resynchronization therapy defibrillators (CRT-D) with EnduraLife Battery Technology for treating patients with heart failure. In the first quarter, the company has also made significant regulatory progress in Europe with the receipt of CE Mark for its newly launched RESONATE platform.
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!
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
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