Boston Scientific Stock Jumps On Q1 Earnings Beat, Improved Guidance

Boston Scientific Corporation BSX Q1 sales grew by 5.9% (organically) to $2.75 billion, beating the previous guidance range between negative 3% and 3% in the quarter, better than the consensus estimate $2.62 billion.
EPS of $0.37 beat the analyst consensus estimate of $0.31 versus $0.28 a year ago.
The company said that the return of elective or non-essential procedures could be seen in some of its business lines more susceptible to the effects of the pandemic, such as urology and neuromodulation.
The Medical surgical segment sales popped 11.1% as the rhythm/neurological and cardiovascular businesses grew 6.8% and 10%, respectively.
Broad-based strength with a rebound in ERCP procedures drove growth in products such as SpyGlass DS, Discover, and AXIOS; EXALT Model D momentum is improving as hospitals establish new protocols and increased hospital access.
The company raised its full-year guidance. Organic revenue growth for 2021 is expected 15% to 18% above 2020 results and 2% to 5% above 2019, increasing the lower end of the ranges by roughly 2% to 3%.
Boston Scientific boosted its full-year guidance. The company forecasts 16%-19% net sales growth and adjusted earnings of $1.53-$1.60 per share.
For the second quarter, Boston Scientific guided to 46%-50% sales growth and 36-38 cents profit per share.
Q1 Earning Presentation.
Price Action: BSX shares are up 4.7% at $44.4 in market trading hours on the last check Wednesday.

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