Boston Scientific (NYSE: BSX) stock is up as company officials predict that the ongoing trade war won’t hinder double-digit sales growth this year.
The Marlborough, Massachusetts–based company reported profits of $674 million. That equals 45¢ per share on sales of $4.66 billion for the three months ended March 31, 2025.
Boston Scientific recorded a 36.2% bottom-line gain on a sales increase of 20.9%.
Adjusted to exclude one-time items, earnings per share came in at 75¢. That landed 8¢ ahead of expectations on Wall Street. Sales topped the estimates, too, as experts forecast $4.57 billion in revenue.
Both the company’s MedSurg and Cardiovascular segments reported double-digit growth, posting 11.7% and 26.2% sales upticks, respectively. Major highlights in the quarter for Boston Scientific include closing its acquisition of Bolt Medical and agreeing to acquire SoniVie. Analysts have been optimistic about the success of the company’s Farapulse pulsed field ablation system for treating AFib.
“We delivered an exceptional quarter to start the year, reflecting the effectiveness of our highly engaged global team and the strength of our product portfolio,” said Mike Mahoney, chair and CEO, Boston Scientific. “We remain well-positioned for the future as we continue to focus on meaningful innovation, clinical science and the execution of our category leadership strategy to drive differentiated growth and performance for the long-term.”
Boston Scientific expects adjusted EPS to range between $2.87 and $2.94 for the full year, up from its previous projection of $2.80 to $2.87. It projects between 15% and 17% sales growth, up from its previous prediction of 12.5% to 14.5% growth.
BTIG analysts Marie Thibault, Sam Eiber, and Alexandra Pang upped their price target on BSX shares on the news: “We are impressed by BSX’s confident outlook and ability to sustain above-market sales growth while shielding margins from tariffs.”
The expected impact of the ongoing trade war
Boston Scientific officials said on the company’s quarterly earnings call that they forecast an approximate $200 million impact in 2025 related to the ongoing tariffs implemented by the Trump Administration.
The medtech industry has faced headwinds from Trump’s tariff policies over the past month or so. Trump’s rollout of new taxes on imports from nearly all countries earlier this month triggered the latest market dip.
Boston Scientific expects to fully offset the $200 million headwind through the full year, though, according to EVP and CFO Dan Brennan. Additionally, the company expects minimal impact in the current quarter, with most headwinds coming in the second half of the year.
To offset the tariff impact, the company said it expects increased revenue performance. It also projects some targeted discretionary spend reductions to deliver more savings.
“We’re really pleased that we’re able to continue the momentum of the company and drive the raise in the revenue guidance range and the raise in the adjusted EPS guidance range,” Brennan said.
Additionally, as companies make significant supply chain decisions related to tariffs, Boston Scientific believes it’s in a good place with its current setup. The company doesn’t plan to make decisions related to moving infrastructure, especially with recent domestic investments in Minnesota and Georgia.
“We have a long standing very well optimized supply chain around the globe, and we’re not looking to make any changes to that as we sit here today,” Brennan said.
The company touted its ability to weather the potential storm of the tariffs and continue its growth.
“Our ability to absorb the tariffs is more unique than most companies, given the strength of the growth and the leverage that we’re driving,” said Mahoney. “We’re able to absorb it and still deliver very high performance.”
A member of Boston Scientific’s C-suite is retiring
In addition to its quarterly results, Boston Scientific announced that Brennan plans to retire from his post as EVP and CFO.
Brennan plans to transition out of the CFO position at the end of June after nearly 30 years with the company. He plans to remain with Boston Scientific as an advisor through early October 2025.
“I thank Dan for his incredible leadership and tremendous contributions to Boston Scientific,” said Mahoney. “Dan is an exceptional leader, financial steward and teammate. He has been a critical leader on our global team as we have transformed the trajectory of BSX financial performance over many years. In addition to helping lead our highly differentiated financial performance, Dan has been central to building our strong values and culture. Throughout his career, he has been instrumental in developing talent within the financial organization. He and his team have overseen numerous strategic internal and external investment opportunities across our businesses since he assumed CFO responsibilities in 2014.”
Boston Scientific tapped Jon Monson, the company’s current SVP, investor relations, to become EVP and CFO, effective June 30. The company expects Monson and Brennan to work closely together to ensure a smooth transition.
Monson previously held roles of increasing responsibility at Boston Scientific, including spending five years as global controller and chief accounting officer. He also spent four years as VP and controller of the company’s Urology business.
“Jon is a proven leader who is known for his strategic mindset, diligent and thoughtful leadership and focus on high performance and continuous innovation,” said Mahoney. “Having been with Boston Scientific for more than 25 years, he brings broad financial experience and expertise across many areas of the company which will serve him well in his new role.”
