Stock Update (NYSE:BSX): Boston Scientific Receives U.S. FDA Approval for Precision Montage™ MRI Spinal Cord Stimulator System

[PR Newswire] – MARLBOROUGH, Mass., May 19, 2016 /PRNewswire/ — Boston Scientific Corporation (BSX) today announced the launch of the Precision Montage™ MRI Spinal Cord Stimulator (SCS) System after receiving approval from the U.S. Food and Drug Administration. The Precision Montage System offers customized relief to patients with chronic pain while also enabling safe access to full body magnetic resonance imaging (MRI) in a 1.5 Tesla environment when conditions of use are met. Boston Scientific is introducing the system at the 8th World Congress of the World Institute of Pain in New York City on May 20-23, 2016. Read more on this. Boston Scientific Corporation (BSX) , valued at $30.27B, ended trading yesterday at $22.29. Looking at today’s market, BSX one day range is $22.11 to $22.31 with its 52-week range being $14.18 to $23.01. Priced at 20.45x this year’s forecasted earnings, BSX shares are relatively expensive compared to the industry’s 7.12x forward p/e ratio. According to a consensus of 26 analysts, the earnings estimate of $0.27 per share would be $0.05 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $1.09 which would be a $0.16 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.04 Billion. If realized, that would be a 10.87% increase over the year-ago quarter. More recently, Nomura Initiated BSX at Buy (Mar 17, 2016). Previously, Sun Trust Rbsn Humphrey Initiated BSX at to Buy. When considering if the stock is under or overvalued, the average price target is $24.20, which is 8.57% above where the stock opened this morning. See more in (NYSE:BSX) Similar Articles: Stock Update (NYSE:BSX): Boston Scientific Receives U.S. FDA Approval For ImageReady™ MR-Conditional Pacing System Market Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific to Participate in Barclays Global Health Care Conference 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