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Medtech Giant Just Below Buy Point After Earnings Top Views

Early Tuesday, Boston Scientific (BSX) reported adjusted earnings of 40 cents per share on $3.07 billion in sales for its second quarter. In response, BSX stock rose modestly to just below a buy point.




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On average, analysts polled by FactSet expected the medical technology company to report 37 cents earnings per share and $2.94 billion in sales.

In the year-earlier period, Boston Scientific earned 8 cents a share and reported $2 billion in sales.

For the year, Boston Scientific guided to adjusted EPS of $1.58-$1.62 vs. its old target of $1.53-$1.60. It now sees 21%-22% net sales growth. Analysts called for adjusted profit of $1.59 per share and $11.77 billion in sales.

In premarket trading on the stock market today, BSX stock rose 1.55% to 44.65. Shares are currently forming a flat base with a buy point at 44.73, according to MarketSmith.com.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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