Boston Scientific stock gets a boost from profit and sales beats, raised outloook

Shares of Boston Scientific Corp.
BSX,
-0.02%
rallied 1.9% in premarket trading Thursday, after the medical technology company beat expectations for both profit and sales, amid strength in its cardiovascular business, and raised its full-year outlook. Net income rose to $261 million, or 18 cents a share, from $246 million, or 17 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 53 cents beat the FactSet consensus of 49 cents. Sales grew 11.0% to $3.60 billion, above the FactSet consensus of $3.50 billion, as cardiovascular sales increased 12.2% to $2.24 billion and MedSurg sales rose 9.0% to $1.36 billion. For 2023, the company raised its guidance ranges for adj. EPS to $1.96 to $2.00 from $1.90 to $1.96 and for sales growth to 10.5% to 11.5% from 8.5% to 10.5%. The stock has edged up 0.7% over the past three months through Wednesday while the S&P 500
SPX,
-0.02%
has gained 10.4%.