LONDON, UK / ACCESSWIRE / June 29, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Boston Scientific Corp. (NYSE: BSX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=BSX. Boston Scientific hosted a meeting with the investment community on June 27, 2017, in New York City, to deliver an overview of its business and long-term growth strategies. The CEO and Chairman, Mike Mahoney discussed the Company's focus on expanding segment leadership and achieving growth globally in advanced patient care and delivering strong financial performance. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Boston Scientific announced that it continues to be the US leader in drug-eluting stents with its SYNERGY Bioabsorbable Polymer Drug Eluting Stent System for the treatment of coronary artery disease, and a global leader in products for complex percutaneous coronary interventions, intravascular ultrasound imaging, and chronic total occlusions.
The Company has additionally received the first ever Expedited Access Pathway (EAP) designation in peripheral by the US FDA for the study of a drug-eluting vascular stent system, administered for the treatment of critical limb ischemia below the knee. The EAP designation is currently reserved for breakthrough technologies that may offer a clinically greater edge over existing alternatives, and it is expected to accelerate the market approval of the drug-eluting vascular stent system designed for treatment of critical limb ischemia by about two years.
Rhythm Management Segment
Under this segment, Boston Scientific continues to deliver innovative technologies with global cardiac rhythm management portfolio approvals and launches. On June 27, 2017, the Company highlighted its Heartlogic? Heart Failure Diagnostic4 that is part of the RESONATE? family of cardiac resynchronization therapy defibrillator (CRT-D) devices, validated for detecting early indications of worsening heart failure.
Boston Scientific recently announced that it invested in technologies to potentially enter $3.5 billion in new endoscopy markets, including endoluminal surgery for gastrointestinal cancer, which is emerging as an alternative to surgical resection of cancer or pre-cancer. The Company announced that it also plans to expand globally into the $2.6 billion urologic cancer segment.
Boston Scientific will present its pipeline of innovation in deep brain stimulation (DBS) for the treatment of movement disorders with patients that have Parkinson's Disease, dystonia, and essential tremor, including the Vercise? Gevia? Deep Brain Stimulation System5, which recently received CE mark and is the industry's first MR-conditional directional DBS system with stimulation visualization.
Company Growth Prospects
Currently, Boston Scientific delivers products to more than 24 million patients around the world, annually, and addresses global markets that are more than $40 billion today, and are expected to reach over $50 billion by 2020. The Company plans to launch new products into high-growth adjacent markets that are expected to address an incremental $13 billion in market opportunity by 2020. The Company plans to diversify its portfolio, away from low-growth markets to moderate and high growth markets, which represented 60% sales in 2016, with a goal to reach 75% of sales by 2020.
The Company additionally plans to achieve an organic revenue compound annual growth rate for 2018-2020 of 6% to 8% and consistent double-digit adjusted EPS growth, through ongoing operating margin improvement initiatives.
Last Close Stock Review
On Wednesday, June 28, 2017, the stock closed the trading session at $28.12, climbing 1.11% from its previous closing price of $27.81. A total volume of 20.24 million shares have exchanged hands, which was higher than the 3-month average volume of 6.99 million shares. Boston Scientific's stock price surged 13.80% in the last three months, 29.23% in the past six months, and 25.82% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 30.00%. The stock is trading at a PE ratio of 89.84. At Wednesday's closing price, the stock's net capitalization stands at $38.58 billion.
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