Shares in Boston Scientific (NYSE:BSX) have risen slightly this morning after the medical device maker posted fourth quarter and full year 2018 earnings that topped consensus on Wall Street.
The Marlborough, Mass.-based company posted profits of $386 million, or 27¢ per share, on sales of approximately $2.6 billion for the three months ended December 31, seeing a swing from the red on the bottom line while sales grew 6.4% compared with the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were 39¢, just ahead of the 37¢ consensus on Wall Street where analysts expected to see sales of $2.6 billion, which the company met.
For the full year, Boston Scientific posted profits of approximately $1.7 billion, or $1.19 per share, on sales of approximately $9.8 billion, seeing massive 1506% growth on the bottom-line while sales grew by 8.6% compared with the previous year.
After adjusting to exclude one-time items, earnings per share were $1.47, ahead of the $1.39 consensus on Wall Street, where analysts expected to see sales of $9.8 billion, which the company met.
“Meaningful innovation and focused execution helped us deliver strong financial results in 2018. We remain driven by the opportunity to help more patients with our life-changing technologies, including a robust long-term pipeline of new devices and therapies,” chair & CEO Mike Mahoney said in a press release.
Boston Scientific provided guidance for its upcoming 2019 year, expecting to see revenue growth of between 7% and 9% with adjusted earnings per share of between $1.53 and $1.58 per share.
For its first quarter of 2019, the company said it expects to see sales growth of between 6% and 7%, with adjusted EPS of between 35¢ and 36¢.
Shares in Boston Scientific have risen 2.2%, at 38.59 as of 9:36 a.m. EST.
Last Friday, Boston Scientific said that it launched its Spectra WaveWriter spinal cord stimulator, intended for treating chronic pain, in Europe.
