ADVFN - Advanced Financial Network.
HOME» NYSE » B » BSX Stock Price » BSX Stock News

Boston Scientific Share News

 Boston Scientific Corp. Stock Price
BSX Stock Price
 Boston Scientific Corp. Stock Chart
BSX Stock Chart
 Boston Scientific Corp. Stock News
BSX Stock News
 Boston Scientific Corp. Company Information
BSX Company Information
 Boston Scientific Corp. Stock Trades
BSX Stock Trades

St. Jude Lowers Sales View Amid Weakened Defibrillator Market

By Jon Kamp Of DOW JONES NEWSWIRES St. Jude Medical Inc. (STJ) lowered its full-year sales outlook Wednesday amid reduced expectations for the heart-rhythm device market, which has been pressured by a weak economy, an unfavorable medical study and a U.S. government investigation. The St. Paul, Minn., company also raised its full-year sales forecast for some other products. St. Jude now believes the global market for heart-rhythm devices--which includes pacemakers and defibrillators--will contract about 2% this year, Chief Executive Daniel Starks said on an earnings call with analysts. This translates to assumptions for an $11.4 billion global market this year, $500 million less than St. Jude assumed on its last earnings call in April. Based on St. Jude's share of the market, where it competes with Medtronic Inc. (MDT) and Boston Scientific Corp. (BSX), this reduced outlook translates into $130 million to $135 million less heart-rhythm sales for St. Jude, Starks said. Overall, the company now forecasts 2011 sales of $5.61 billion to $5.73 billion, down from a raised forecast in April for sales of $5.69 billion to $5.85 billion. While St. Jude lowered its outlook for heart-rhythm devices, its biggest product franchise, it also raised sales expectations for atrial fibrillation and cardiovascular products, which follows increases for both product lines in April. The company reported adjusted per-share earnings Wednesday that were one cent above Wall Street's average expectations, according to a survey by Thomson Reuters, but it lowered its full-year earnings guidance by three cents. In addition to reporting new weakness in heart-rhythm devices--although analysts widely expected a slowdown there--St. Jude hasn't gotten a key new product approved as quickly as hoped. The company is now targeting early fourth-quarter Food and Drug Administration approval for heart-failure defibrillator systems featuring its new "quadripolar" lead, or cable that connects the devices to the heart. The company had previously expected mid-year approval. As for heart-rhythm market's malaise, Starks said the U.S. market "fell into a pothole during the second quarter." He cited a handful of factors including economic weakness. Also, more St. Jude customers were contacted by the U.S. Department of Justice in the second quarter than in prior periods regarding an ongoing investigation into reimbursement submissions for defibrillators, Starks said. St. Jude shares recently traded down 1% to $46.34 early Wednesday. Shares of Boston Scientific slipped 1% to $7.07 while Medtronic shares were 8% lower at $36.71. -By Jon Kamp, Dow Jones Newswires; 617-654-6728;

Stock News for Boston Scientific (BSX)
04/28/201512:10:20Boston Scientific Reports Loss, Product Settlement
04/28/201507:08:26Current Report Filing (8-k)
04/28/201507:00:00Boston Scientific Announces Results for First Quarter 2015
04/28/201504:10:00New Data Evaluating The Boston Scientific Eluvia⢠Drug-Eluting V...
04/27/201516:30:00Boston Scientific To Participate In The Bank Of America Merrill...
04/27/201516:15:00Boston Scientific Announces Strategic Collaboration With Brainlab...
04/24/201508:30:00Boston Scientific To Participate In The Deutsche Bank 40th Annual...
04/20/201516:01:00Long-Term Data Underscore Safety And Efficacy Of The Boston Scientific...
04/20/201505:24:29RBC Capital Boosts Boston Scientific Price Target to $20.00 (BSX)
04/16/201516:05:00Boston Scientific Enrolls First Patient In New Study Designed...
04/14/201516:13:39Current Report Filing (8-k)
04/14/201509:00:00Boston Scientific Signs Strategic Alliance With Frankenman Medical...
04/03/201516:03:56Statement of Changes in Beneficial Ownership (4)
04/03/201516:03:56Statement of Changes in Beneficial Ownership (4)
04/02/201502:40:47First Quarter Large Cap Winners And Losers
04/01/201516:08:02Initial Statement of Beneficial Ownership (3)
04/01/201516:07:07Initial Statement of Beneficial Ownership (3)
04/01/201516:01:00Boston Scientific Agrees to Acquire Xlumena
04/01/201508:30:00Boston Scientific To Webcast Conference Call On First Quarter...
04/01/201507:32:38Is It Time To Book Profits? - Cramer's Mad Money (3/31/15)

Boston Scientific and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations