Stephen Simpson, CFA
Wed, Apr. 27, 9:11 AM
Feb. 18, 2015, 9:15 AM
Feb. 17, 2015, 5:58 PM
- Boston Scientific (NYSE:BSX) +11.8% AH after settling the $7.2B lawsuit brought by Johnson & Johnson (NYSE:JNJ) for $600M, ending litigation that has nagged BSX since its 2006 acquisition of Guidant.
- JNJ had sought damages after accusing Guidant of breaching their merger agreement by going with the higher offer from BSX.
- BSX says it admits no liability in the settlement, and will record a $600M charge in its Q4 2014 financial results.
Feb. 17, 2015, 5:37 PM
Jan. 8, 2015, 12:24 PM
Jan. 6, 2014, 2:09 PM
- McKesson (MCK -0.1%) upgraded to Strong Buy from Outperform at Raymond James.
- DaVita (DVA +0.4%) upgraded to Outperform from Market Perform at Raymond James.
- Idenix Pharmaceuticals (IDIX -0.3%) upgraded to Buy from Neutral at UBS.
- Abbott Labs (ABT +1.5%) upgraded to Overweight from Equalweight at Morgan Stanley.
- Medtronic (MDT +2%) upgraded to Overweight from Neutral at JPMorgan. Price target is $69.
- Vertex Pharmaceuticals (VRTX +2.5%) upgraded to Buy from Neutral at UBS.
- Ocera Therapeutics (OCRX +2.7%) upgraded to Outperform from Market Perform at BMO.
- Boston Scientific (BSX +3.2%) upgraded to Overweight from Equalweight at Morgan Stanley.
- Exelixis (EXEL +4.6%) upgraded to Overweight from Neutral at Piper.
- St. Jude Medical (STJ +3.8%) upgraded to Overweight from Equalweight at Morgan Stanley.
Dec. 12, 2013, 8:30 AM
- Boston Scientific (BSX) +3.7% premarket after its Watchman device won the backing of an FDA advisory panel yesterday for use as a treatment to prevent strokes in people with irregular heartbeats.
- Watchman failed to prevent stokes as well as the standard treatment using the blood-thinner warfarin, but the panel said the similar results between the two didn’t carry as much weight as total long-term data; the panel also heard from patients who praised its convenience compared with the bleeding risks of blood thinners.
- The market for devices to close the left atrial appendage may total $400M, and Watchman may generate $162M in worldwide sales in 2017, Wells Fargo says.
Dec. 6, 2013, 10:39 AM
- Boston Scientific (BSX +3.7%) trades notably higher in morning action.
- The company has inked a co-promotion agreement with The Medicines Company (MDCO -1.4%) for the Promus PREMIER drug-eluting stent.
- BSX is apparently looking to leverage MDCO's cardio sales force and product portfolio during the U.S. introduction of the new system. (PR)
- In other company news, BSX says retrospective data presented at NANS shows the company's SCS system "provided highly significant pain relief three months after implantation." (PR)
Oct. 24, 2013, 10:30 AM
- Boston Scientific (BSX -7.6%) slides after posting a narrow Q3 top line beat.
- Adjusted EPS came in ahead of the high-end of company guidance.
- Global sales growth by segment (constant currency): Peripheral Interventions, +7%; Cardiovascular, +1%; Cardiac Rhythm Management, +1%; Electrophysiology, -1%; Rhythm Management, +1%; Endoscopy, +8%; Urology/Women's Health, +8%; Neuromodulation, +12%; MedSurg, +12%.
- The company is instituting a 2014 restructuring plan which will "include continued implementation of BSX's ongoing Plant Network Optimization strategy, continued focus on driving operational efficiencies and ongoing business and commercial model changes."
- BSX expects to save $150-200M on gross annual pre-tax operating expenses and says it "anticipates a gross reduction of 1,100 to 1,500 positions worldwide."
- The company also says "implementation is expected to result in total pre-tax charges of approximately $175M to $225M."
- FY13 outlook: Revenue of $7.085-7.135B and adjusted EPS of $0.69-0.71. (PR)
Sep. 5, 2013, 4:09 PM
- Boston Scientific (BSX +5.9%) finishes the day near 4-year highs after it announced yesterday that The Journal of Allergy and Clinical Immunology featured data related to its Alair Bronchial Thermopasty System.
- The data was from the Asthma Intervention Research 2 clinical trial examining the safety and effectiveness of the Alair System, which is based on a post-approval study of BT-treated patients from the AIR2 Trial who were followed for a total of five years.
- Key findings reported at five years following BT include a reduction in the percentage of BT-treated patients experiencing severe exacerbations and fewer emergency room visits recorded for respiratory symptoms in BT-treated patients compared to the year prior to receiving BT.
Jul. 25, 2013, 9:15 AM
Jul. 25, 2013, 8:36 AM
More on Boston Scientific's (BSX) Q2: EPS doubles analysts' estimates and revenue comes in above the high end of guidance even as sales fall on a Y/Y basis (+2% on a constant currency basis). Revenue growth (as reported) by segment: Interventional Cardiology, -5%; Peripheral Interventions, +2%; Cardiovascular, -4%, Cardiac Rhythm, -3%; Electrophysiology, -3%; Rhythm Management, -3%, Endoscopy, +5%, Urology/ Women's Health, -1%; Neuromodulation, +21%; MedSurg, +6%. Outlook: Q3 and FY EPS of $0.14-0.16 and $0.67-0.71 respectively on sales of $1.7-1.76B next quarter and $7.05-7.17B for the full year. Shares +9% premarket. (PR)| Jul. 25, 2013, 8:36 AM | 1 Comment
May 15, 2013, 3:44 PM
Boston Scientific (BSX +4.4%) is set to finish strong today after announcing earlier that it's first patient has been enrolled in a clinical investigation evaluating the use of its WallFlex Biliary RX Stent, a self-expanding metal stent used as a bridge to surgery. The study is expected to enroll 294 patients at leading hospitals in Australia, Belgium, Canada, France, Hong Kong, India, Italy and Japan.| May 15, 2013, 3:44 PM
May 9, 2013, 2:12 PM
Boston Scientific (BSX +5%) hits a new 52-week high after reporting follow-up data from its Protect AF clinical trial demonstrating that its Watchman Left Atrial Appendage Closure device was statistically superior to Bristol-Myers (BMY) Warfarin in preventing cardiovascular death, strokes and systemic embolization.| May 9, 2013, 2:12 PM | 1 Comment
Apr. 26, 2013, 2:48 PM
Boston Scientific (BSX -1.6%) gives back a pre-market pop plus more today, despite being upped to Outperform at Credit Suisse with a price target of $8.75. The firm says the company is on track for the first time in years to post positive sales growth, and that management's "continued commitment to returning to positive sales growth H213 & to improving margins despite a tough pricing environment" is encouraging.| Apr. 26, 2013, 2:48 PM
Apr. 11, 2013, 4:16 PMShares of Boston Scientific (BSX -1.5%) tanked into the close of trading today, with no significant news hitting the tape. | Apr. 11, 2013, 4:16 PM