Boston Scientific lifts annual profit view on steady heart devices demand
Boston Scientific raised its annual profit forecast on Wednesday, after strong demand for its heart devices helped the U.S. medical device maker beat second-quarter profit estimates.
Shares of the Massachusetts-based company rose 2.3 per cent in premarket 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 U.S. 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 (PFA) systems.
'Cardiovascular end-markets remain robust,' Truist analyst Richard Newitter said ahead of the earnings, adding that Boston, followed by Medtronic, are in the best position at the moment to benefit from the growing and accelerating PFA market.
Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse.
Boston Scientific expects 2025 adjusted profit of US$2.95 to US$2.99 per share, up from the prior view of US$2.87 to US$2.94 earlier.
It posted adjusted profit of 75 cents per share for the second quarter, topping analysts' average estimate of 72 cents, according to data compiled by LSEG.
The company's cardiovascular unit reported quarterly sales of US$3.34 billion, surpassing estimates of US$3.20 billion.
Revenue came in at US$5.06 billion for the quarter, topping estimates of US$4.9 billion.
---
Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shreya Biswas
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
29 minutes ago
- Globe and Mail
European Union expects to face 15% US tariffs from Friday. But a key text still isn't ready
BRUSSELS (AP) — The European Union is working on the presumption that the United States will impose a 15% tariff on most EU exports from Friday, even though the two sides have yet to complete a key document clarifying how the agreement will operate. U.S. President Donald Trump and European Commission President Ursula von der Leyen reached a political agreement on Sunday that would see 15% duties imposed on around two-thirds of EU produce, worth around 380 billion euros ($434 billion). As of Thursday, the EU and U.S. were still working on a joint statement that would lay out the terms of their understanding, Commission spokesman Olof Gill said. The document wouldn't be legally binding. 'It is the clear understanding of the European Union that the U.S. will implement the agreed across the board tariff ceiling of 15%,' Gill said. The Commission negotiates trade terms on behalf of the the EU's 27 member countries. Carve outs were agreed for a range of 'strategic' goods, including aircraft and aircraft parts, certain chemicals, some drug generics or natural resources. Gill said that 'it is also our clear understanding that the U.S. will implement the exemptions to the 15% ceiling.' He added: 'The U.S. has made these commitments. Now it's up to the U.S. to implement them. The ball is in their court.' European wine and spirits won't escape the 15% levy on Friday, but may do later as negotiations on additional exemptions to the new tariff regime continue, he said. Chris Swonger, chief executive of the U.S. Distilled Spirits Council, said it was 'extremely disappointing' that no agreement was reached. The U.S. is the EU's biggest market for alcohol exports. 'It is critical that President Trump secure a permanent return to zero-for-zero tariffs on spirits with the European Union, which will provide much-needed certainty to 1.7 million workers who depend on a vibrant U.S. spirits industry,' Swonger said in a statement. Before last Sunday's meeting, Trump had threatened the bloc with 30% tariffs, which Von der Leyen said would effectively mean the end of trade between them. Over the last three months, the Commission drew up retaliatory measures worth tens of billions of euros to enact should the talks fail. Those countermeasures are due to take effect on Aug. 7, but Gill said they would be frozen 'if everything goes as expected.' 'If we have reached a deal, we don't need the retaliatory tariffs,' he said.
CTV News
29 minutes ago
- CTV News
Justin Timberlake has Lyme disease
Justin Timberlake performs at the 2025 BottleRock Napa Valley on Saturday, May 24, 2025, at Napa Valley Expo in Napa, Calif. (Photo by Amy Harris/Invision/AP) Musician Justin Timberlake has Lyme disease, he revealed on social media Thursday. 'I'm a pretty private person,' he wrote in a post, later adding: 'among other things, I've been battling some health issues, and was diagnosed with Lyme disease – which I don't say so you feel bad for me – but to shed some light on what I've been up against behind the scenes.' More details to come.
CTV News
29 minutes ago
- CTV News
Trump administration cancels plans to develop new offshore wind projects
The Trump administration is canceling plans to use large areas of federal waters for new offshore wind development, the latest step to suppress the industry in the United States. More than 3.5 million acres had been designated wind energy areas, the offshore locations deemed most suitable for wind energy development. The U.S. Bureau of Ocean Energy Management is now rescinding all designated wind energy areas in federal waters, announcing on Wednesday an end to setting aside large areas for 'speculative wind development.' Offshore wind lease sales were anticipated off the coasts of Texas, Louisiana, Maine, New York, California and Oregon, as well as in the central Atlantic. The Biden administration last year had announced a five-year schedule to lease federal offshore tracts for wind energy production. Trump began reversing the country's energy policies after taking office in January. A series of executive orders took aim at increasing oil, gas and coal production. The Republican president has been hostile to renewable energy, particularly offshore wind. One early executive order temporarily halted offshore wind lease sales in federal waters and paused the issuance of approvals, permits and loans for all wind projects. In trying to make a case against wind energy, he has relied on false and misleading claims about the use of wind power in the U.S. and around the world. The bureau said it was acting in accordance with Trump's action and an order by his interior secretary this week to end any preferential treatment toward wind and solar facilities, which were described as unreliable, foreign-controlled energy sources. The U.S. Interior Department is considering withdrawing areas on federal lands with high potential for onshore wind power to balance energy development with other uses such as recreation and grazing. It also will review avian mortality rates associated with wind turbines. Earlier this month, the department said all solar and wind energy projects on federal lands and waters must be personally approved by U.S. Interior Secretary Doug Burgum. Robin Shaffer, president of Protect Our Coast New Jersey, applauded the administration for its actions and said they were long overdue. Opponents of offshore wind projects are particularly vocal and well-organized in New Jersey. 'It's hard to believe these projects ever got this far because of the immensity, scale, scope and expense, compared to relatively cheap and reliable forms of onshore power,' he said Thursday. 'We're nearly there, but we haven't reached the finish line yet.' The Sierra Club said the administration's 'relentless obstruction of wind energy' shows it does not care about creating affordable, reliable energy for everyday Americans. 'No matter how much they want to bolster their buddies in the dirty fossil fuel industry, we will continue to push for the cleaner, healthier, and greener future we deserve,' Xavier Boatright, Sierra Club's deputy legislative director for clean energy and electrification, said in a statement. Attorneys general from 17 states and the District of Columbia are suing in federal court to challenge Trump's executive order halting leasing and permitting for wind energy projects. His administration had also halted work on a major offshore wind project for New York, but allowed it to resume in May. The nation's first commercial-scale offshore wind farm, a 12-turbine wind farm called South Fork, opened last year east of Montauk Point, New York. ___ Jennifer Mcdermott, The Associated Press
