NEW YORK (TheStreet) -- Boston Scientific (BSX) - Get Report stock is up 7.19% to $18.03 on heavy volume in midday trading on Wednesday, following the release of its 2015 third quarter earnings results this morning.
About 18.28 million shares of Boston Scientific have been traded so far today, well above the company's average trading volume of about 9.27 million shares a day.
The medical device maker reported earnings of 24 cents per share for the most recent quarter, up from 20 cents per share in the year ago period.
Revenue increased 2% year over year, to $1.89 billion from $1.85 billion in the 2014 third quarter.
Analysts surveyed by Thomson Reuters had forecast that Boston Scientific would report earnings of 23 cents per share on revenue of $1.86 billion.
The company narrowed its full-year earnings forecast to a range between 90 cents per share and 92 cents per share from the prior range between 88 cents per share and 92 cents per share.
"Our excellent third quarter performance was driven by strong sales and differentiated adjusted operating margin expansion," CEO Mike Mahoney said in a statement.
Separately, TheStreet Ratings team rates BOSTON SCIENTIFIC CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate BOSTON SCIENTIFIC CORP (BSX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: BSX