Boston Scientific Corp (NYSE:BSX), a $144.82 billion medical device manufacturer with strong financial health according to InvestingPro analysis, has received preliminary court approval for a settlement related to past shareholder derivative actions and demands for access to certain records. These actions were connected to the previously disclosed recall and discontinuation of the LOTUS Edge Aortic Valve System.
The United States District Court for the District of Massachusetts issued the preliminary approval order on January 8, 2025. The proposed settlement is the result of an agreement dated September 6, 2024, involving plaintiffs Diane Nachbaur and Frank Tripson, Excavators Union Local 731 Pension Fund, Boston Scientific as a nominal defendant, and individual named defendants.
Boston Scientific, headquartered in Marlborough, Massachusetts, is a manufacturer of medical devices and equipment. The company's stock is traded on the New York Stock Exchange under the ticker symbol BSX. This announcement is based on a press release statement.
In other recent news, Boston Scientific has been the focus of several major developments. The company confirmed its 2024 financial guidance, projecting a 15% organic revenue growth and an increase in operating margins. This is expected to lead to a 20-21% year-over-year growth in earnings per share (EPS), with figures estimated to be between $2.45 and $2.47. Citi analyst reaffirmed a Buy rating in light of this information.
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