On Wednesday, Boston Scientific Corporation (NYSE:BSX) reported third-quarter 2025 revenues of $5.07 billion, beating the consensus estimate of $4.97 billion.
The medical technology giant reported adjusted earnings of 75 cents, beating the consensus of 71 cents and the management guidance of 70-72 cents.
Outlook: Boston Scientific forecasts net sales growth of approximately 20% in 2025 on a reported basis and around 15.5% on an organic basis, compared to prior guidance of 18%-19% and 12%-14%, respectively.
The company expects fourth-quarter adjusted earnings of 77 cents to 79 cents, versus a consensus of 76 cents. Sales should range between $5.22 billion and $5.31 billion, versus a consensus of $5.18 billion.
Needham said organic growth slowed somewhat to 15.3% in the quarter from 17.4% in the second quarter as Boston Scientific lapped the FARAPULSE launch.
Also Read: Boston Scientific Gains Momentum As Growth Broadens, Goldman Sachs Says
“But the biggest surprise in 3Q25 was the acceleration in WATCHMAN growth to 35% in 3Q25 from 28% in 2Q25 as concomitant use continues to increase,” Needham analyst Mike Matson said.
Needham expects Boston Scientific's product portfolio and pipeline to drive double-single-digit revenue growth. Mix, cost reduction efficiencies, and operating leverage should drive low-teens or better earnings growth, Matson added.
Despite the tariff headwind, Boston Scientific’s gross margin expanded, driven by SG&A leverage. The company still expects around a $100 million tariff impact in 2025.
Overall, this was another strong quarter for BSX as its key growth drivers continue to deliver. Needham reiterates Buy rating.
Price Action: BSX stock is down 0.41% at $103.39 at the last check on Thursday.
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