Boston Scientific Stock Gains 3% After Earnings Beat and Upbeat Guidance

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Boston Scientific Stock Gains 3% After Earnings Beat and Upbeat Guidance

Dow Jones01-31

Boston Scientific Corp.’s stock gained 3.2% early Wednesday, after it beat estimates for the fourth quarter and offered upbeat guidance for 2024.

The Marlborough, Mass.-based medical technology company posted net income of $504 million, or 34 cents a share, for the quarter, up from $126 million, or 9 cents a share, in the year-earlier period. Excluding special items, the company had EPS of 55 cents, ahead of the 51 cent FactSet consensus. Sales rose 14.9% to $3.725 billion, well ahead of the $3.593 billion FactSet consensus.

The company is now expecting net sales to rise 8.5% to 9.5% in 2024. It expects EPS of $1.38 to $1.42 and adjusted EPS of $2.23 to $2.27. The FactSet consensus is for sales to rise 8% and for EPS of $2.24.

The stock has gained 33% in the last 12 months, while the S&P 500 has gained 20.8%.

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