© Reuters. Boston Scientific (BSX) jumps as Q4 results exceed analyst expectations
Boston Scientific (NYSE:) reported stronger-than-expected results for its fourth quarter, sending its shares 4.3% higher in early New York trading Wednesday.
The company posted adjusted earnings per share (EPS) for the fourth quarter of 55 cents compared to 45 cents year-over-year (YoY), and beating the consensus estimate of 51 cents. The company’s net sales saw a 15% increase YoY to $3.73 billion, exceeding the estimated $3.6 billion.
In terms of specific divisions, Endoscopy net sales were $645 million, up 13% YoY and above the estimate of $625.8 million. Cardiology net sales reached $1.75 billion, surpassing the estimated $1.68 billion.
Peripheral Interventions net sales were also strong at $533 million, a 12% increase YoY, and higher than the expected $523.4 million. Neuromodulation and Urology divisions too outperformed estimates, with net sales of $269 million and $527 million respectively, against estimates of $260.6 million and $508.5 million.
Looking ahead, Boston Scientific forecasts an adjusted EPS of 50 to 52 cents for the first quarter, aligning with the high end of the 52 cents estimate.
For the full year, the company anticipates an adjusted EPS in the range of $2.23 to $2.27, closely matching the estimate of $2.24.
“The company estimates net sales growth for the first quarter of 2024, versus the prior year period, to be in a range of approximately 7.5 to 9.5 percent on a reported basis, and approximately 7 to 9 percent on an organic basis,” it said in a press release.
