Boston Scientific Raises Full Year Guidance After An Outstanding Q1’16 Performance
Boston Scientific(NYSE:BSX) reported its Q1 2016 earnings on April 27th. Most of the key financial metrics came in above the company’s guided range and the expected consensus estimates for the quarter. The stock hit a 10 year high, as the investors took note of the strong performance. The company’s strong performance was fueled by: 1) outstanding growth across all the regions of the operation; 2) double-digit revenue growth in the Interventional Cardiology and MedSurg segments; and, 3) gross margin expansion and lower SG&A expense. Furthermore, Boston Scientific witnessed a 14% increase in drug-eluting stent sales, led by the strong adoption of Synergy DES, the only FDA approved bioabsorbable polymer drug-eluting stent in in the U.S. Moreover, the company raised its full year revenue guidance for 2016 by $15 million at the midpoint.
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