Boston Scientific (BSX) Smashed as Sales Miss, Guidance Looks Weak
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Shares of Boston Scientific (NYSE: BSX) are getting absolutely slammed today amid disappointing Q3 results and a soft Q4 outlook. The stock is currently down 16.4% to $8.50. With about 1.51 billion shares outstanding, Boston Scientific has lost more than $2.5 billion in market cap today.
The supplier of medical equipment reported quarterly adj-EPS of $0.19, topping the Street's estimate by about 5 cents, but missed on the sales figure: $2.02 billion, versus the consensus of $2.04 billion.
As for guidance, Boston Scientific said it sees Q4 non-GAAP EPS of $0.17-$0.21 on sales of $2.025-$2.125 billion. The Street was looking for Q4 EPS and sales of $0.17. and $2.10 billion, respectively.
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