Market Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific Receives U.S. FDA Approval For Quadripolar Leads And Initiates Global Trial To Expand MRI Labeling To The U.S. And Asia

[PR Newswire] – MARLBOROUGH, Mass., Feb. 23, 2016 /PRNewswire/ — Boston Scientific (BSX) has received U.S. Food and Drug Administration (FDA) approval for the ACUITY™ X4 Quadripolar Left Ventricular (LV) leads. The FDA approval of the quadripolar leads, the wires that connect cardiac resynchronization therapy (CRT) devices to the heart, marks the first time the company will offer a full X4 CRT system – both the device and the leads – to the U.S. market. The family of ACUITY X4 Quadripolar LV leads is engineered with four electrodes along a unique 3D shape. Read more on this. Boston Scientific Corporation (BSX) , valued at $23.22B, began trading this morning at $17.11. Shares have traded today between $17.08 and $17.33 per share with a one year range of $14.18 to $19.06. Boston Scientific (BSX) shares are currently priced at 16.44x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 3.61x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 24 sell-side analysts are looking at $0.24 per share, which would be $0.03 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $1.05 which would be a $0.12 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.91 Billion. If realized, that would be a 7.91% increase over the year-ago quarter. In terms of ratings, Citigroup Initiated BSX at Buy (Nov 12, 2015). Previously, Raymond James upgraded BSX from Outperform to Strong Buy. The average price target for BSX shares by the analysts covering the stock is $20.78, which is 21.45% above where the stock opened this morning. See more in (NYSE:BSX) Similar Articles: Company Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific Announces Results for Fourth Quarter and Full Year Ended December 31, 2015 Company Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific to Participate in Leerink Partners 2016 Healthcare Conference Market Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific Launches The LithoVue™ Single-Use Digital Flexible Ureteroscope In U.S. And Europe