Boston Scientific raises annual earnings forecast, shares rise

October 23, 2024 04:33 AM PDT | By Investing

Google News:

Boston Scientific raises annual earnings forecast, shares rise

Recent News

Berlin seeks Patriot Missiles for Ukraine amid US supply strain: repor...

China spares major French cognac makers from tariffs in brandy dispute

Why the US job market may actually crumble soon

Why Thailand’s economic recovery may not be straightforward

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

For the third quarter, the biotech firm reported earnings per share (EPS) of $0.63, surpassing the analyst estimate of $0.59.

Revenue stood at $4.21 billion, also above the $4.04 billion estimated by analysts.

Endoscopy net sales were $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.

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 now 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.

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

"We continue to gain momentum driven by our product pipeline, clinical evidence and commercial execution that position us well for the long term."

This article first appeared in Investing.com

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content) is a service of Kalkine Media LLC., having Delaware File No. 4697309 (“Kalkine Media, we or us”) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.