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Yahoo Finance Plus Boston Scientific Falls as Revenue Outlook Disappoints
By Dhirendra Tripathi
Investing.com – Boston Scientific stock (NYSE:BSX) traded 5.5% lower Wednesday after the medical devices maker projected an outlook that traders think was weak considering its 2021 revenue growth of 20%.
The company is now guiding for full-year net sales to grow 6%-8%, less than half of the growth in the year gone by when sales hit nearly $12 billion.
It expects adjusted profit per share to be $1.76 at the center of its guidance range for the year.
The maker of coronary stents and defibrillators recorded the highest revenue growth in its cardiovascular business. The segment grew more than 25% to $1.3 billion in revenue. Other businesses grew less than half of that pace though all grew in double digits at segment level.
Growth in emerging markets and U.S. were strongest as restrictions were lowered and people attended to health issues they were forced to ignore during the pandemic.
Fourth-quarter net sales rose more than 15% to exceed $3.1 billion. Adjusted EPS came in at 45 cents and beat estimates.
For the current quarter, the company expects net sales to rise 5%-8% while adjusted EPS is seen at 39 cents at the midpoint of its guidance range.
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