Heart device sales help Boston Scientific beat profit estimates
Shares of the Massachusetts-based company rose by over 3% in pre-market trading following the results.
A rise in surgical procedures has benefited medical device manufacturers such as Boston Scientific, as it boosted sales and helped offset broader concerns about healthcare spending pressures.
Analysts said hospital utilization trends were robust during the second quarter, with hospital checks pointing to high single-digit volume growth - well above the historical average.
Boston Scientific's main growth drivers, Farapulse and Watchman, which use short high-voltage pulses to treat certain abnormal heart rhythm conditions, saw strong demand during the quarter.
Farapulse, approved in the US to treat certain patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the market for pulsed field ablation systems.
Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse.
The company reported net sales of $5.06bn (€4.33bn) during the second quarter beating estimates of $4.9bn. The majority of these sales, $3.2bn, were in the US with Europe, the Middle East, and Africa accounting for just $878m.
The company's cardiovascular unit reported quarterly sales of $3.34bn, surpassing estimates of $3.20bn.
'Excellent quarter'
Chairman and chief executive of Boston Scientific, Mike Mahoney, said it was another 'excellent quarter' for the company 'marked by exceptional top-line performance' which delivered 'margin expansion and prioritized investment for future growth'.
Boston Scientific expects 2025 adjusted profit of $2.95 to $2.99 per share, up from the prior view of $2.87 to $2.94 earlier. It posted an adjusted profit of 75c per share for the second quarter, topping analysts' average estimate of 72 cents, according to data compiled by LSEG.
Boston Scientific began operating in Ireland in 1994. It has a large campus in Cork as well as several other locations across the island. According to its company's Irish operations' most recent financial documents, it employed 6,405 during 2023.
Reuters
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