Shockwave Medical gains; Boston Scientific declines to discuss takeover speculation
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Shockwave Medical (NASDAQ:SWAV) rose 2.3% as Boston Scientific (NYSE:BSX) repeatedly declined to comment on a recent report about a potential takeover.
Boston Scientific (BSX) executives on the company's Q1 earnings call on Wednesday repeatedly declined to discuss a recent Bloomberg report that Boston Scientific (BSX) was considering a takeover of Shockwave (SWAV), saying the company doesn't discuss such speculation.
Boston Scientific (BSX) Chief Financial Officer Daniel Brennan declined to comment on potential earnings dilution in any M&A transaction.
"I think from our perspective, we're committed to looking at deals that are high growth and tuck-in acquisitions as we've done," Brennan said on the call earlier.
Boston Scientific (BSX) CEO Michael Mahoney said the company is committed to an investment grade rating and is comfortable at BBB+ rating when asked about what kind of leverage ratio the company is comfortable with currently.
The latest speculation comes after Bloomberg reported in January of last year that Shockwave (SWAV) received takeover interest. The company was working with an adviser to consider a merger or partnership with another health-care company.
Earlier Boston Scientific (BSX) rises as revenue guidance beats consensus.
Shockwave (SWAV) is set to report Q1 results on May 8.