Boston Scientific (BSX) Reports In-Line Q3 EPS

Boston Scientific (NYSE: BSX) reported Q3 EPS of $0.20, in-line with the analyst estimate of $0.20. Revenue for the quarter came in at $1.85 billion versus the consensus estimate of $1.82 billion.

Highlights:

• Drove third quarter revenue growth of 8 percent in Cardiovascular, 7 percent in Rhythm Management, and 5 percent in MedSurg, all on a constant currency basis over the prior year period.
• Achieved third quarter revenue growth of 9 percent internationally over the prior year period, primarily driven by 11 percent growth in Europe and 19 percent growth in Emerging Markets, all on a constant currency basis. Emerging Markets revenue represented 10 percent of total company sales.
• Generated strong operating cash flow of $346 million in the third quarter.
• Received favorable FDA Advisory Committee Panel recommendation for the WATCHMAN™ Left Atrial Appendage Closure Device** by a vote of 6 to 5 (with 1 abstention) that the benefits of the device outweigh the potential risks.
• Closed the acquisition of the Interventional Division of Bayer AG for approximately $415 million, which is expected to drive growth in peripheral atherectomy and thrombectomy categories.
• Enrolled first patient in REPRISE III, a head-to-head randomized trans-aortic valve replacement (TAVR) clinical trial of 1,000 patients, designed to support U.S. regulatory approval of the Lotus™ Valve System.**
• Completed the first commercial cases in the U.S. and Europe using the Rhythmia™ Mapping System, a next-generation, catheter-based, 3D cardiac mapping and navigation solution designed to help diagnose and treat a variety of arrhythmias.

For earnings history and earnings-related data on Boston Scientific (BSX) click here.

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