Boston Scientific Corporation (NYSE:BSX) shows higher level of earnings in Q2 results


Dallas, Texas 07/31/2013 (Financialstrend) – Increase in net income and profits reported for the second quarter of the fiscal year by Boston Scientific Corporation (NYSE:BSX) had proved to be of value to the shareholders who had been flocking to the stock in the recent days. There had been reported to be net earnings of $130 million at 10 cents of earnings per basic and diluted share, which was observed to be an increase over net loss of $2.51 per share reported for the second quarter of fiscal year 2012 by BSX.

With higher level of earnings reported for the second quarter, Boston Scientific had made considerable upgrades to its financial guidance for the full fiscal year where the earnings estimates had been increased to $0.61 to $0.71 per share and the revenue estimates had been increased to $7.05 billion to $7.17 billion. Earlier, the company had fixed up the estimates on earnings per share for fiscal year 2013 to be at $0.65 to $0.70 per basic and diluted share and revenues to be at $6.95 billion to $7.15 billion.

Boston Scientific Corporation (NYSE:BSX) had closed for the day on Tuesday with $10.83 per share with a bearish behavior of 1.28% over the previous day’s closing price. The intraday movements of the stock were between a low value of $10.81 to a high value of $11.02 per share. The yearly stock price variations are between the lower value of $5.04 to a higher value of $11.11 per share. The shares held by the investors and the company insider’s account to 1.34 billion with an institutional ownership of 92%. The total stock value of the company in the stock market is $14.51 billion. The trading trend of the company for its latest trading day was 20.16 million shares compared to the average trading volume over the month of 18.31 million shares.