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Boston Scientific: Its Plan to Accelerate and Sustain Growth

PART:
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Part 2
Boston Scientific: Its Plan to Accelerate and Sustain Growth PART 2 OF 6

Boston Scientific’s Stellar 2Q17 Results: Key Highlights

EPS estimates

On July 27, 2017, Boston Scientific (BSX) reported its 2Q17 earnings results. In the quarter, it recorded diluted adjusted EPS (earnings per share) of $0.32, representing an ~18.5% YoY (year-over-year) growth. The diluted adjusted EPS in the quarter came in at the high end of the company’s guidance range of $0.30 to $0.32.

Boston Scientific’s Stellar 2Q17 Results: Key Highlights

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As shown in the graph above, Boston Scientific’s EPS exceeded Wall Street analysts’ expectations of $0.31. Currency headwinds of $0.02 hurt the company’s 2Q17 adjusted EPS.

Revenue estimates

The company also exceeded Wall Street analysts’ revenue estimates of $2.21. The reported revenues represented a YoY growth of around 6.0% on a reported basis. On an operational basis, the company’s sales in the quarter rose about 7.0%.

Boston Scientific’s Stellar 2Q17 Results: Key Highlights

By comparison, peers Edwards Lifesciences (EW), Abbott Laboratories (ABT), and Medtronic (MDT) registered revenue growth of 10.8%, 24.4%, and 3.1%, respectively, in their recently reported quarters.

BSX’s organic sales growth of 6.0% in the quarter excludes the impact of foreign exchange and the acquisitions of EndoChoice and Symetis. For details of the recently closed acquisition of Symetis, read Boston Scientific Completes Its Acquisition of Symetis.

Boston Scientific registered double-digit sales of around 11.0% in its MedSurg business, while its Cardiovascular and Rhythm Management businesses registered revenue growth of 5.0% and 2.0%, respectively. Emerging markets continued to maintain strong sales momentum and reported sales growth of around 13.0%, with China registering an attractive 20.0% growth. US sales rose around 9.0% on a reported basis.

Europe and the AMEA (Asia-Pacific, the Middle East, and Africa) region registered growth of 1.0% and 5.0%, respectively. Sales for Europe were impacted by Lotus recalls. To know more, read How Will the Lotus Recall Affect BSX’s 2017 Performance?

Investors can gain diversified exposure to Boston Scientific by investing in the Vanguard Total Stock Market ETF (VTI). Boston Scientific accounts for 0.15% of VTI’s total holdings.

Next, let’s look at Boston Scientific’s profitability over the recent quarters and expectations going forward.

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