Free Post Earnings Research Report: Boston Scientific Quarterly Revenues Grew Across All Segments; Diluted EPS Jumped 23% Y-O-Y

Stock Monitor: Medtronic Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 28, 2017 / Active-Investors’ free earnings report on Boston Scientific Corp. (NYSE: BSX) has freshly been issued to its members. You can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=BSX. Boston Scientific reported its third quarter fiscal 2017 financial results on October 26, 2017. The leading medical devices manufacturer revenue advanced 5.56% on a y-o-y basis. Register today and get free access to our complimentary member’s area, where many more reports are available: www.active-investors.com/registration-sg.

Active-Investors.com is currently working on the research report for Medtronic PLC (NYSE: MDT), which also belongs to the Healthcare sector as the Company Boston Scientific. Do not miss out, become a member today for free to access this upcoming report at: www.active-investors.com/registration-sg/?symbol=MDT.

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Boston Scientific’s most recent news is on our radar and we have decided to include it in our blog post. Today’s free coverage is available at: www.active-investors.com/registration-sg/?symbol=BSX.

Earnings Highlights and Summary

Boston Scientific (NYSE: BSX) reported net sales of $2.22 billion in the current quarter compared to $2.11 billion in Q3 FY16, resulting in a 5.56% increase and 5.7% growth on an operational basis. The Company’s revenue number topped analysts’ estimates of $2.20 billion.

Boston Scientific incurred operating expenses worth $1.21 billion in the current quarter, rising by 3.87% y-o-y, compared to Q3 FY16 figures of $1.16 billion. The Company recorded operating income of $377 million versus $348 million in the prior year’s corresponding quarter.

Boston Scientific reported net income of $283.00 million in Q3 FY17, compared to $228.00 million in Q3 FY16, resulting in a 24.12% increase y-o-y. Diluted EPS amounted to $0.21 in the reported quarter in comparison with $0.17 in the year ago same period, reflecting an increase of 23.53%. Adjusted earnings for Q3 FY16 resulted to $0.27, in comparison to the current quarter’s figures amounting to $0.31, which met analysts’ estimates.

Segment Details

Boston Scientific has three business segments, namely: MedSurg, Cardiovascular, and Rhythm Management.

During Q3 FY17, Boston Scientific’s net sales for the MedSurg segment were $831.00 million, compared to $753.00 million in Q3 FY16; increasing by 10.36% y-o-y.

The Company’s Cardiovascular segment posted net sales of $857.00 million in the current quarter, compared to $825.00 million in Q3 FY16; an increase of 3.88% y-o-y.

The Rhythm Management segment reported net sales of $534.00 million in Q3 FY17, compared to $527.00 million in Q3 FY16, increasing by 1.33% y-o-y, driven mainly due to good sales growth of EMBLEM S-ICD product.

The Company achieved good sales growth through geographic regions as well. US sales grew by 4.20%; Europe by 11.40%; Asia/Pacific, Middle- East, and Africa by 4.60%; and Emerging Markets by 18.30%, all on a y-o-y basis.

Balance Sheet

Boston Scientific posted cash and cash equivalents $210.00 million in the quarter ending September 30, 2017, compared to $196.00 million in the quarter ending December 31, 2016. The accounts receivables for the current quarter were $1.470 billion, compared to $1.472 billion in Q4 FY16. The Company had long-term debt of $4.42 billion in Q3 FY17, compared to $5.42 billion in Q4 FY16.

Cash Matters

Boston Scientific reported cash inflow from operating activities of $554.00 million for nine months period ending September 30, 2017, compared to $506.00 million for the same period in fiscal 2016. As of September 30, 2017, the Company under its 2013 repurchase program, held authorization to repurchase shares worth $535.00 million.

Outlook

The Company anticipates fiscal 2017 revenues to be in the range of $8.99 billion to $9.02 billion compared to prior guidance of $8.890 to $8.990 billion and reflecting growth of approximately 7-8% y-o-y. The Company expects GAAP based net-income per share to be in the range of $0.71 to $0.75 and adjusted earnings per share to be in the band of $1.24 to $1.27, both for fiscal 2017.

Boston Scientific estimates revenues to be in the range of $2.35 billion to $2.38 billion in Q4 FY17. It expects GAAP based net-income per share to be in the range of $0.19 to $0.23 and adjusted earnings per share to be in the range of $0.32 to $0.35, both for Q4 FY17.

Stock Performance Snapshot

November 27, 2017 – At Monday’s closing bell, Boston Scientific’s stock was slightly down 0.52%, ending the trading session at $28.51.

Volume traded for the day: 3.25 million shares.

Stock performance in the last three-month – up 5.71%; previous six-month period – up 4.20%; past twelve-month period – up 34.80%; and year-to-date – up 31.81%

After yesterday’s close, Boston Scientific’s market cap was at $39.12 billion.

Price to Earnings (P/E) ratio was at 47.05.

The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry.

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