Boston Scientific Swings to 3Q Profit; Sales Grow
October 27 2021 - 7:11AM
Dow Jones News
By Matt Grossman
Boston Scientific Corp. said Wednesday it swung to a
third-quarter profit, but its sales growth was just shy of
analysts' expectations.
The Marlborough, Mass.-based medical-device maker logged
earnings of 28 cents a share, compared with a loss of 12 cents a
share in the year-ago quarter. Net income was $419 million, up from
a loss of $155 million in the prior-year period.
Stripping out one-time items, the company's adjusted earnings
were 41 cents a share. Analysts surveyed by FactSet were
forecasting adjusted earnings of 40 cents a share.
Sales rose to $2.93 billion, from $2.66 billion in 2020's third
quarter. Analysts had anticipated sales of $2.96 billion.
The Covid-19 pandemic continued to drag on demand, Chief
Executive Mike Mahoney said.
Boston Scientific posted 11.2% sales growth in its
medical-surgical division, 8.2% growth in rhythm and neuro, and
19.4% growth in cardiovascular sales.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
October 27, 2021 06:56 ET (10:56 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Boston Scientific (NYSE:BSX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Boston Scientific (NYSE:BSX)
Historical Stock Chart
From Sep 2023 to Sep 2024