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 Nov 2021 to Dec 2021 Click Here for more Boston Scientific Charts.
Boston Scientific (NYSE:BSX)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more Boston Scientific Charts.