NEW YORK (TheStreet) -- Shares of Boston Scientific (BSX) - Get Report are increasing 3.85% to $24.57 this morning after the medical device maker reported better-than-expected second quarter revenue before today's market open.
Boston Scientific posted in-line earnings of 27 cents per share. Revenue rose 16% year-over-year to $2.13 billion, surpassing analysts estimated $2.05 billion.
Last year, the company reported earnings of 22 cents per share on revenue of $1.84 billion for the second quarter.
Boston Scientific raised its full-year revenue guidance to be in the range of $8.270 billion to $8.370 billion, compared to its prior estimate of $8.075 billion to $8.225 billion. The company also raised its full-year adjusted earnings estimates to between $1.07 per share to $1.11 per share.
In June, Boston Scientific announced a restructuring program that will layoff an unspecified number of employees and should be completed by the end of 2018.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate BOSTON SCIENTIFIC CORP as a Buy with a ratings score of B. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: BSX