Boston Scientific stock gains as medical device maker tops Q2 forecasts

Investing.com -- Shares in Boston Scientific rose over 3% in premarket trading Wednesday after the medical device maker reported second-quarter earnings and revenue that topped Wall Street estimates.

The company posted second-quarter earnings per share of $0.86, beating the analyst estimate of $0.83. Revenue came in at $5.44 billion, up 7% on an operational and organic basis, above the $5.37 billion consensus.

By segment, MedSurg net sales grew 5.9% on a reported basis and 5.4% operationally and organically, while Cardiovascular grew 8.3% on a reported basis and 7.8% operationally and organically.

Regionally, U.S. net sales rose 6.2% on both a reported and operational basis, EMEA grew 6.1% reported and 4.2% operationally, APAC rose 11.2% on both measures, and Latin America and Canada grew 22.4% reported and 16.2% operationally.

"Our team delivered a solid quarter while continuing to navigate a dynamic environment," said Mike Mahoney, chairman and CEO of Boston Scientific. "We are focused on disciplined execution and prioritizing investments in our highest-impact opportunities, and we remain confident in Boston Scientific’s long-term growth, anchored by our category leadership strategy and our commitment to meaningful innovation for patients and physicians."

For the full year, Boston Scientific now expects EPS of $3.28-3.32, below the $3.36 consensus, with organic net sales growth of approximately 5-6%.

For the third quarter, the company expects adjusted EPS of $0.80 to $0.82, lower than the $0.84 consensus estimate, and net sales growth of approximately 3-5% on both a reported and organic basis.

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