Boston Scientific (NYSE:BSX) shares ticked up before hours today on first-quarter results that beat the consensus forecast.
The Marlborough, Mass.-based company posted profits of $327 million, or 23¢ per share, on sales of $2.8 billion for the three months ended March 31, 2021, for a massive bottom-line gain from profits of $11 million this time a year ago on sales growth of 8.2%.
Adjusted to exclude one-time items, earnings per share were 37¢, 6¢ ahead of Wall Street, where analysts were looking for sales of $2.6 billion.
Boston Scientific experienced year-over-year improvements across its segments, with medsurg registering 11.1% growth, its cardiovascular business achieving a 10% uptick and rhythm and neuro growing by 6.8%.
“We are pleased by the trajectory of our recovery,” Boston Scientific chairman & CEO Mike Mahoney said in a news release. “Our global team remains committed to helping patients and our customers by delivering a robust portfolio of innovative solutions, and that commitment will continue to fuel our future growth.”
Boston Scientific said it now expects to log adjusted EPS of between $1.53 and $1.60 per share for the full year and projects its annual revenue growth to come in between 16% and 19%.
BSX shares were up 3.8% at $44 per share in pre-market trading today.