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Boston Scientific sees higher-than-expected 2025 profit on strong demand
BOSTON-RESULTS/:Boston Scientific sees higher-than-expected 2025 profit on strong demand
Feb 5 (Reuters) - Medical device maker Boston Scientific forecast annual profit above Wall Street estimates on Wednesday, banking on steady demand for its heart devices.
Manufacturers of medical devices have been benefiting from the elevated demand for elective surgical procedures in the United States, especially among older adults.
Boston Scientific, which generates most of its revenue from sales of heart devices such as pacemakers and stents, also produces equipment for diagnosing and treating a range of gastrointestinal and pulmonary conditions.
The company expects its 2025 adjusted earnings to be in the range of $2.80 to $2.87 per share, above analysts' average expectation of $2.81 at the midpoint, according to data compiled by LSEG.
Boston Scientific projected full-year revenue growth between 12.5% and 14.5%, compared with the prior year.
The company's key growth drivers include its stroke prevention device, Watchman, and Farapulse, which uses short high-voltage pulses to treat certain abnormal heart rhythm conditions.
The initial 2025 guide is "strong out of the gates and we see room for the company to beat and raise through the year with PFA (Farapulse) as a key driver," RBC Capital analyst Shagun Singh said.
The results and the forecast "continue to point to a positive read-through to the rest of the sector," Singh added.
Boston Scientific's revenue increased 22.4% to $4.56 billion for the fourth quarter, surpassing expectations of $4.43 billion.
Sales at the company's cardiovascular unit rose nearly 29% to $2.94 billion in the three months ended Dec. 31, beating estimates of $2.83 billion.
The company's endoscopy unit, which includes devices used in surgical procedures that aid in weight loss, reported a 7% rise in its quarterly revenue of $690 million. Analysts were expecting the unit to report sales of $695.9 million.
Boston Scientific earned 70 cents per share on an adjusted basis in the fourth quarter, topping estimates of 66 cents. (Reporting by Mariam Sunny in Bengaluru; Editing by Shreya Biswas)
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Business NewsCompaniesCompany ResultsBoston Scientific sees higher-than-expected 2025 profit on strong demand
First Published:5 Feb 2025, 06:26 PM IST
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