How CE Mark approval will prove beneficial for Boston Scientific (NYSE:BSX)?

Boston Scientific Corporation (NYSE:BSX) lately announced that it has gained the CE Mark approval and is scheduling with the launch of the Precision Spectra Spinal Cord Stimulator (SCS) System in Europe.

This device was designed to offer better relief from pain for range of patients inflicted with chronic pain. . The Precision Spectra System is the only SCS system in the market with 32 focused power sources and 32 contacts.

Electrical pulses are supplied by Spinal cord stimulators. The pulses highlight pain indicators going to the brain. Additional lead ports in the Precision Spectra System give medical practitioners more flexibility to deal with pain.

In Europe among five, one person suffers from chronic pain. Till date, more than 60,000 patients all over the world will be given therapy using BSX SCS systems.

Presently Food and Drug Administration reviewed the Precision Spectra Spinal Cord Stimulator, however in U.S. it has not been commercialized.

Analysts at zacks give a neutral rating on shares of Boston Scientific Corporation (NYSE:BSX), citing these factors will prove beneficial for the company for a long period of time.

At the close of the trading day, Boston Scientific Corporation (NYSE:BSX) shares rose +1.96% to settle at $5.71. Intraday trading was between $5.53 – $5.73.  In the past year, the stock has traded within a range of $4.79 – $6.41. The last session’s volume of 15.16 million shares was down from the average daily trading volume of 15.75 million shares.

Medtronic, Inc. (NYSE:MDT) shares were up +0.09% to close at $42.60. The stock traded between $42.35 – $42.91 during the last trading session.  In the last 12 months the shares have traded between $34.98 and $44.79. The last session’s volume of 2.80 million shares was a bit lower than their average daily trading volume of 4.53 million shares.

St. Jude Medical, Inc. (NYSE:STJ) shares in the last session were up +0.89% closing at $35.27. The stock traded in a range of $34.82 – $35.53.  In the last year the stock has moved within a range of $30.25 – $44.80. The last session’s volume of 3.17 million shares was down from their average daily trading volume of 5.32 million shares.

Another rival company CONMED Corporation (NASDAQ:CNMD), traded up +0.54% moving to $27.80. Intraday trading recorded the stock price in a range between $27.55 – $27.91.  In the previous 52 weeks the price has traded between $24.12 – $31.93. The last session’s volume of 67,583 million shares was down from their average daily trading volume of 77,093 shares.