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Boston Scientific Lifts 2017 Adj. EPS View

Boston Scientific Corp. (BSX) now estimates revenue for the full year 2017 to be in a range of $8.890 billion to $8.990 billion, compared to prior guidance of $8.800 to $8.900 billion. It represents a growth range of approximately 6 to 7 percent on a reported basis and a growth range of approximately 6 to 8 percent on an operational basis including contribution of approximately 120 basis points from EndoChoice and Symetis.

For 2017, the company now estimates income on a GAAP basis in a range of $0.70 to $0.74 per sharem compared to prior guidance of $0.81 to $0.86 per share.

The company now estimates adjusted earnings, excluding acquisition-related net charges, restructuring and restructuring-related net charges, litigation-related net charges, certain investment impairment charges and amortization expense, in a range of $1.23 to $1.27 per share for 2017, compared to prior guidance of $1.22 to $1.26 per share.

Analysts polled by Thomson Reuters expect the company to report earnings of $1.25 per share and revenues of $8.88 billion for 2017. Analysts' estimates typically exclude special items.

The company estimates sales for the third quarter of 2017 to be in a range of $2.180 billion to $2.210 billion, which versus the prior year period represents a growth range of approximately 4 to 5 percent on a reported basis and a growth range of approximately 5 to 6 percent on an operational basis including contribution of approximately 140 basis points from EndoChoice and Symetis.

For the third quarter of 2017, the company estimates earnings on a GAAP basis in a range of $0.16 to $0.18 per share. Adjusted earnings, excluding acquisition-related net charges, restructuring and restructuring-related net charges and amortization expense, are estimated in a range of $0.29 to $0.31 per share.

Analysts expect the company to report earnings of $0.31 per share and revenues of $2.19 billion for the third-quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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