Boston Scientific Stock Rises After Earnings Guidance Increase

Boston Scientific (NYSE:BSX) stock climbed over 1% in premarket trading on Wednesday after the company raised its full-year earnings guidance, exceeding consensus estimates.

Q3 Financial Performance

For the third quarter, the biotech firm reported:
– Earnings per Share (EPS): $0.63, surpassing the analyst estimate of $0.59.
– Revenue: $4.21 billion, above the $4.04 billion estimated by analysts.

Breakdown of Net Sales

• Endoscopy net sales: $678 million, a 7.8% year-over-year increase, slightly above the estimate of $675.9 million.
• Cardiology net sales: Rose 29% year-over-year to $2.13 billion, ahead of the $2 billion projection.

Future Projections

For the fourth quarter of 2024, Boston Scientific expects EPS to range between $0.64 and $0.66, compared to analyst expectations of $0.64.

For the full year 2024, the company projects EPS between $2.45 and $2.47, up from the previous range of $2.38 to $2.42, and above the consensus estimate of $2.41.

Company Insights

Mike Mahoney, chairman and CEO of Boston Scientific, stated:
> "Our sustained high performance is a testament to the strength of our talented global team, differentiated portfolio, and category leadership strategy."

He added that the company continues to gain momentum driven by their product pipeline, clinical evidence, and commercial execution, positioning them well for the long term.