Company Update (NYSE:BSX): Boston Scientific Announces U.S. FDA Approval of Navigation-Enabled Ablation Catheters

[PR Newswire] – MARLBOROUGH, Mass., May 3, 2016 /PRNewswire/ — Boston Scientific (BSX) has received U.S. Food and Drug Administration (FDA) approval for two catheters that can be used with the Rhythmia™ Mapping System. The IntellaNav™ XP and the IntellaNav MiFi™ XP navigation-enabled ablation catheters – designed to map and ablate – were approved to treat Type I atrial flutter, an abnormal rhythm of the upper chambers of the heart. Along with the immediate launch of the catheters, the company is also releasing a software enhancement for the Rhythmia Mapping System. Read more on this. Boston Scientific Corporation (BSX) , currently valued at $29.49B, started the session at $21.89. Looking at the equity, the company’s one day range is $21.60 to $22.02 with its 52-week range being $14.18 to $22.42. BSX shares are currently priced at 20.18x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 6.53x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 26 sell-side analysts are looking at $0.27 per share, which would be $0.05 better than the year-ago quarter and a $0.01 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $1.09 would be a $0.16 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.05 Billion. If realized, that would be a 11.41% increase over the year-ago quarter. Recently, Nomura Initiated BSX at Buy (Mar 17, 2016). Previously, Sun Trust Rbsn Humphrey Initiated BSX at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $23.96, which is 9.46% above where the stock opened this morning. See more in (NYSE:BSX) Similar Articles: Company Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific Announces Scheduled Presentations At Heart Rhythm Society 2016 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 Company Update: Boston Scientific Corporation (NYSE:BSX) – Boston Scientific Announces Results for Fourth Quarter and Full Year Ended December 31, 2015