©Reuters.Boston Scientific (BSX) soars after fourth-quarter earnings exceed analyst expectations
Boston Scientific (NYSE:) reported better-than-expected fourth-quarter results, sending its stock up 4.3% in early New York trading on Wednesday.
The company's fourth-quarter adjusted earnings per share (EPS) came in at 55 cents, compared with 45 cents a year earlier, beating consensus estimates of 51 cents. The company's net sales increased 15% year over year to $3.73 billion, beating expectations of $3.6 billion.
Regarding specific segments, endoscopy net sales were $645 million, up 13% year-over-year and beating expectations of $625.8 million. Cardiology net sales reached $1.75 billion, exceeding estimates of $1.68 billion.
Peripheral Interventions net sales were also strong, increasing 12% year-over-year to $533 million, beating expectations of $523.4 million. The Neuromodulation and Urology segments also exceeded expectations, with net sales of $269 million and $527 million, respectively, compared to expectations of $260.6 million and $508.5 million, respectively.
Looking forward, Boston Scientific expects first-quarter adjusted EPS of 50 to 52 cents, which is in line with the high end of its estimate of 52 cents.
The company expects full-year adjusted EPS to be in the range of $2.23 to $2.27, roughly in line with its estimate of $2.24.
“The company estimates year-over-year net sales growth in the first quarter of 2024 will be in the range of approximately 7.5 percent to 9.5 percent on a reported basis and approximately 7 percent to 9 percent on an organic basis,” the company said. states. In a press release.
