Boston Scientific Raises 2021 Guidance
April 28 2021 - 7:23AM
Dow Jones News
By Dave Sebastian
Boston Scientific Corp. raised its outlook for 2021 and made
projections for the second quarter as it reported higher
first-quarter profit and sales.
The Marlborough, Mass.-based medical-products company on
Wednesday said it sees full-year net sales growth of about 16% to
19%, or about 15% to 18% on an organic basis. In February, it
guided for a sales growth of 13% to 19%, or 12% to 18% on an
organic basis.
The company said it expects full-year earnings of 81 cents a
share to 88 cents a share, or $1.53 a share to $1.60 a share on an
adjusted basis. It previously guided for earnings of 72 cents a
share to 82 cents a share, or $1.50 a share to $1.60 a share on an
adjusted basis.
For the second quarter, Boston Scientific said it sees net sales
growing about 46% to 50%, or about 44% to 48% on an organic basis.
It expects earnings of 16 cents a share to 18 cents a share, or 36
cents a share to 38 cents a share on an adjusted basis.
Organic sales exclude the effect of foreign-currency
fluctuations and the acquisition of Preventice Solutions Inc., with
no prior period related net sales, as well as the intrauterine
health franchise, which the company divested in the second quarter
of 2020, and the specialty pharmaceuticals business, which the
company divested in the first quarter of 2021.
Shares rose 2.8% in premarket trading.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 28, 2021 07:08 ET (11:08 GMT)
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