Boston Scientific (NYSE: BSX) reported Q2 EPS of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $2.26 billion versus the consensus estimate of $2.21 billion.

Guidance for Full Year and Third Quarter 2017

The company now estimates revenue for the full year 2017 to be in a range of $8.890 to $8.990 billion (compared to prior guidance of $8.800 to $8.900 billion), which versus the prior year period, represents a growth range of approximately 6 to 7 percent on a reported basis and a growth range of approximately 6 to 8 percent on an operational basis including contribution of approximately 120 basis points from EndoChoice and Symetis. The company now estimates income on a GAAP basis in a range of $0.70 to $0.74 per share (compared to prior guidance of $0.81 to $0.86 per share) and now estimates adjusted earnings, excluding acquisition-related net charges, restructuring and restructuring-related net charges, litigation-related net charges, certain investment impairment charges and amortization expense, in a range of $1.23 to $1.27 per share (compared to prior guidance of $1.22 to $1.26 per share).

GUIDANCE:

Boston Scientific sees FY2017 EPS of $1.23-$1.27, versus the consensus of $1.25. Boston Scientific sees FY2017 revenue of $8.89-8.99 billion, versus the consensus of $8.88 billion.

Second quarter financial results and recent developments:

• Reported second quarter sales of $2.257 billion, compared to the company\'s guidance range for the quarter of $2.185 to $2.215 billion, representing an increase of 6 percent on a reported and 7 percent on an operational basis, all compared to the prior year period.
• Grew organic revenue 6 percent in the second quarter over the prior year period. Organic revenue growth excludes the impact of changes in foreign currency exchange rates and sales from the acquisition of EndoChoice Holdings, Inc. (EndoChoice) as well as recently acquired Symetis SA (Symetis).
• Reported GAAP earnings of $0.11 per share compared to the company\'s guidance range of $0.18 to $0.21 per share, primarily due to litigation-related charges. Achieved adjusted earnings per share of $0.32 compared to the guidancerange of $0.30 to $0.32 per share.
• Achieved second quarter revenue growth in all segments, all compared to the prior year period:
• MedSurg: 11 percent reported, 12 percent operational, and 10 percent organic
• Cardiovascular: 5 percent reported and organic, and 6 percent operational
• Rhythm Management: 2 percent reported, 3 percent operational and organic
• Delivered strong revenue growth in the U.S. and AMEA, all compared to the prior year period:
• U.S.: 9 percent reported and operational, 7 percent organic
• Europe: 1 percent reported, 4 percent operational and 2 percent organic
• AMEA (Asia-Pacific, Middle East and Africa): 5 percent reported, 7 percent operational and organic
• Emerging markets:1 13 percent reported, 15 percent operational and 14 percent organic
• Closed the acquisition of Symetis, a privately-held Swiss structural heart company, for approximately $430 million in cash, enabling the company to provide physicians with multiple transcatheter aortic valve replacement (TAVR) offerings for the treatment of patients with valvular heart disease.
• Announced positive results from the pivotal global randomized TAVR study at the annual EuroPCR Scientific Congress, demonstrating LOTUS™ Valve System2 superiority over a CoreValve® TAVR System platform3 for the primary composite effectiveness endpoint and non-inferiority for the primary composite safety endpoint. Also presented results for the ACURATE neo™/TF™4 valve in the SAVI-TF Registry, confirming safety and efficacy of the valve out to one year, as well as demonstrating the lowest new pacemaker rate seen in a major TAVR trial.
• Presented positive safety and efficacy rates for the WATCHMAN™ Left Atrial Appendage Closure (LAAC) Device from the EWOLUTION European registry at the Heart Rhythm Society\'s Annual Scientific Sessions. Data confirmed that the WATCHMAN device had a high implant success rate and was effective in stroke reduction (compared to expected rate) in patients with non-valvular atrial fibrillation, including patients deemed unsuitable for oral anticoagulation.
• Completed patient enrollment of the SALUTE trial, designed to pursue regulatory approval of the WATCHMAN device in Japan, which the company expects to receive in 2019.
• Announced the first ever Expedited Access Pathway designation in the peripheral branch of the U.S. Food and Drug Administration (FDA) for the study of a drug-eluting vascular stent system for the treatment of critical limb ischemia below the knee,5 a condition for which there are currently few effective treatment options.
• Received FDA approval for the RESONATE™ family of implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) systems. The new devices combine the EnduraLife™ longest-lasting battery technology, SmartCRT™ therapy optimization and compatibility with the HeartLogic™ Heart Failure Diagnostic Service6 to help physicians improve heart failure management.
• Received CE Mark for the Vercise™ Gevia™ Deep Brain Stimulation (DBS) System,7 the industry\'s first MR-conditional directional DBS system for the treatment of movement disorder symptoms in patients with Parkinson\'s disease, dystonia and essential tremor.
• Presented post approval study results at the American Thoracic Society International Conference that demonstrated the Alair™ Bronchial Thermoplasty System reduced complications, including severe asthma exacerbations and asthma-related hospitalizations, in adult patients with severe persistent asthma.

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