Boston Scientific tops profit and sales expectations, but trims full-year outlook

Boston Scientific Corp. reported Wednesday second-quarter profit and sales that topped expectations, but trimmed its full-year outlook, saying it maintained “strong” market positions amid continued macroeconomic challenges. The medical devices company’s stock was still inactive in premarket trading. Net income rose to $246 million, or 17 cents a share, from $172 million, or 12 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 44 cents beat the FactSet consensus of 42 cents. Sales grew 5.4% to $3.24 billion, above the FactSet consensus of $3.22 billion, with MedSurg sales rising 4.5% to $1.25 billion and Cardiovascular sales increasing 6.0% to $2.00 billion. For 2022, the company lowered its sales growth outlook to 6.5% to 7.5% from 7% to 9%, and its adjusted EPS guidance to $1.74 to $1.77 from $1.74 to $1.79. The stock has dropped 11.8% over the past three months while the S&P 500 has shed 6.3%.

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