Morgan Stanley reviewed the Q3 2014 earnings of Boston Scientific Corporation BSX in a report issued Wednesday. The firm maintained an Overweight rating.
Analysts Davis R. Lewis and James Francescone noted that the company had "a very strong quarter with upside to guidance despite FX pressures" which supported their "thesis on growth acceleration. Organic sales growth of 4.3 percent beat our estimate by 100 bps and ticked up nearly 150 bps sequentially despite facing the toughest comp of the year."
"Boston’s 3Q14 sales of $1,846 million were 1 percent higher than consensus of $1,819 million. The FX headwind of $8 million was $20 million unfavorable versus our expectation of a $12 million tailwind, costing over 100 bps from revenue. Cash EPS of $0.20 were in line with consensus," according to Lewis.
Lewis noted that "full year revenue guidance was upwardly narrowed to $7,370-7,420 million from $7,325-7,425 million” and that full year “EPS guidance was upwardly narrowed to $0.81-0.83 from $0.79-0.83."
Boston Scientific Corporation recently traded at $12.46, up 3.57 percent.
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