On August 11, Boston Scientific rose 3.01% in regular trading, trading at $50.795/share, with turnover of $692 million. The rally was driven by broad strength in the Health Care Equipment sector combined with continued recovery following the company's better-than-expected Q2 earnings.
Boston Scientific reported Q2 adjusted EPS of $0.86, beating the consensus estimate of $0.83 by 3.6%, while net sales of $5.44 billion also exceeded the $5.36 billion expected. The outperformance was fueled by strong growth in interventional cardiology and neuromodulation, with the latter posting 12.7% sales growth. However, the company lowered its full-year adjusted EPS guidance to $3.28-$3.32 versus the Street estimate of $3.36, citing headwinds from Watchman device utilization slowdown and intensifying electrophysiology competition. Despite the guidance cut, multiple firms including UBS, Deutsche Bank, and RBC maintained buy ratings while trimming price targets. The Health Care Equipment sector rallied broadly on the day, with DexCom up 3.76%, Intuitive Surgical up 2.99%, and Medtronic up 2.21%, providing additional support.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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