Boston Scientific stock jumped Wednesday after the medtech giant easily beat Wall Street's fourth-quarter expectations and its own guidance.
During the December quarter, Boston Scientific earned an adjusted 70 cents per share on $4.56 billion in sales. Earnings cruised more than 27% higher to top the Street's call for 66 cents per share. Sales grew north of 22% on a strict, as-reported basis and 19.5% organically to $4.56 billion. Analysts called for a lower $4.42 billion in sales.
Growth in the fourth quarter also beat Boston Scientific's own guidance.
On today's stock market, Boston Scientific stock rose 1.4% to 104.97, reversing from a premarket decline. Shares are trading at a record high after breaking out of a flat base with a buy point at 91.93 on Jan. 8, according to MarketSurge.
Farapulse Helps Drive Beat
The company called out its launch of Farapulse pulsed field ablation system in 2024. Farapulse uses electrical pulses to treat abnormal heart rhythm. Farapulse helped drive strong revenue in the cardiovascular segment. Cardiovascular sales rocketed almost 29% on a reported basis to $2.94 billion, beating forecasts for $2.83 billion, according to FactSet.
In addition to strong cardiovascular sales, the company's medical-surgical division topped sales projections at $1.62 billion. Sales grew more than 12%. Analysts called for a lower $1.59 billion.
For the year, Boston Scientific guided to adjusted earnings of $2.80 to $2.87 per share and 10% to 12% organic sales growth. Analysts projected earnings of $2.81 per share and $18.81 billion in sales.
