Boston Scientific shares up on Q4, 2018 earnings Beat

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Boston Scientific

Shares in Boston Scientific (NYSE:BSX) have risen slightly this morning after the medical device maker posted fourth quarter and full year 2018 earnings that topped consensus on Wall Street.

The Marlborough, Mass.-based company posted profits of $386 million, or 27¢ per share, on sales of approximately $2.6 billion for the three months ended December 31, seeing a swing from the red on the bottom line while sales grew 6.4% compared with the same period during the previous year.

Adjusted to exclude one-time items, earnings per share were 39¢, just ahead of the 37¢ consensus on Wall Street where analysts expected to see sales of $2.6 billion, which the company met.

For the full year, Boston Scientific posted profits of approximately $1.7 billion, or $1.19 per share, on sales of approximately $9.8 billion, seeing massive 1506% growth on the bottom-line while sales grew by 8.6% compared with the previous year.

After adjusting to exclude one-time items, earnings per share were $1.47, ahead of the $1.39 consensus on Wall Street, where analysts expected to see sales of $9.8 billion, which the company met.

“Meaningful innovation and focused execution helped us deliver strong financial results in 2018. We remain driven by the opportunity to help more patients with our life-changing technologies, including a robust long-term pipeline of new devices and therapies,” chair & CEO Mike Mahoney said in a press release.

Boston Scientific provided guidance for its upcoming 2019 year, expecting to see revenue growth of between 7% and 9% with adjusted earnings per share of between $1.53 and $1.58 per share.

For its first quarter of 2019, the company said it expects to see sales growth of between 6% and 7%, with adjusted EPS of between 35¢ and 36¢.

Shares in Boston Scientific have risen 2.2%, at 38.59 as of 9:36 a.m. EST.

Last Friday, Boston Scientific said that it launched its Spectra WaveWriter spinal cord stimulator, intended for treating chronic pain, in Europe.

The post Boston Scientific shares up on Q4, 2018 earnings Beat appeared first on MassDevice.

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