Shares of Boston Scientific Corporation (BSX) traded over 5% higher on Wednesday, driven by upbeat first-quarter (Q1) earnings and positive full-year guidance.
The medical technology company reported adjusted earnings of $0.75 per share, above its guidance range of $0.66 to $0.68 per share, and surpassing an analyst estimate of $0.67, as per FinChat data.
Quarterly net sales touched $4.66 billion, representing an increase of 20.9% from the corresponding quarter of last year, and beating an analyst estimate of $4.57 billion.
Net sales in the United States jumped 31.1% to $2.96 billion from $2.26 billion, while net sales in the Europe, Middle East, and Africa (EMEA) region rose 5.5% to $846 million.
Boston Scientific CEO Mike Mahoney said that the company remains “well-positioned” for the future after an “exceptional quarter.”
The company now expects full-year adjusted EPS, excluding certain charges, of $2.87 to $2.94, exceeding Wall Street expectations of $2.86. Net sales for the full year is expected to grow by 15% to 17% compared to 2024.
For the second quarter, the company estimates adjusted EPS, excluding certain charges, of $0.71 to $0.73, exceeding expectations of $0.71, and net sales growth of between 17.5% to 19.5%.
On Stocktwits, retail sentiment around BSX rose marginally while remaining in the ‘bearish’ territory over the past 24 hours, while message volume jumped from ‘normal’ to ‘high’ levels.
BSX stock is up by over 12% so far this year and by over 45% over the past 12 months.
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