Latest news with #Medtronic
Yahoo
18 hours ago
- Business
- Yahoo
Boston Scientific lifts 2025 outlook following 29% Q2 cardiovascular profit rise
Boston Scientific has raised its 2025 profit outlook to between $2.95 and $2.99 per share amid strong Q2 performance in its cardiovascular unit, driven in large part by the uptake of its Farapulse pulsed field ablation (PFA) system. The company now anticipates an adjusted profit of $2.95 to $2.99 per share for 2025, raising its previous guidance of $2.87 to $2.94. Boston Scientific's financials revealed total sales of more than $5bn in Q2 2025, representing a 22.8% rise on Q2 2024 at $4.12bn, with shares in the company rising by over 4% following the result's announcement. The majority of the quarter's profits emanated from the US-based company's cardiovascular unit at $3.34bn – representing a 26.8% increase on the unit's Q2 2024 performance at $2.63bn. GlobalData medical analyst David Beauchamp noted that since its emergence, PFA has displaced most other approaches to treating atrial fibrillation (AFib) such as radiofrequency (RF) and cryoablation. Meanwhile, Boston Scientific only has competition in the space from Medtronic and Johnson & Johnson (J&J). Boston Scientific gained US Food and Drug Administration (FDA) approval on Farapulse in January 2024, a month after Medtronic's approval for its PulseSelect PFA system. J&J secured approval for its Varipulse PFA system in November 2024. Beauchamp said: 'Boston Scientific also has had widespread success with their WATCHMAN series of left atrial appendage closure devices. 'It's not shocking to see them increasing their profit expectations, as they have been consistently successful for years and their device quality is very high.' Elsewhere across the business, Boston Scientific reported a 26.9% rise to $676m in its urology unit, up from $525m in Q2 2024. The company's peripheral intervention division also saw a significant increase of 18.3% to $698m versus $590m in Q2 2024. Boston Scientific's chairman and CEO Mike Mahoney commented: 'This was another excellent quarter – marked by exceptional top-line performance – that delivered margin expansion and prioritised investment for future growth.' Reflecting on the quarter during an earnings call with analysts, the company's CFO John Monson said that sales for medical device makers such as Boston Scientific had been boosted due to a growth in surgical procedures, thereby helping ameliorate broader concerns about healthcare spending concerning the Trump administration's proposed tariffs. However, Monson commented: "Based on the current schedule of expected tariffs, we now anticipate a full-year headwind of about $100m, down from a $200m estimate.' According to GlobalData analysis, months after the approval of Farapulse and Medtronic's PulseSelect, physicians in the US had already started displaying a much stronger preference for Farapulse over PulseSelect. J&J also released its Q2 2025 financials last week, reporting a 7.3% rise in its Medtech unit on Q2 2024 to around $8.54m. Since its FDA approval in 2024, J&J's Varipulse PFA system has clearly had an effect on the Medtech unit's performance, albeit to a lesser extent than Farapulse given that Boston Scientific's PFA system has had a slight head start in the market. "Boston Scientific lifts 2025 outlook following 29% Q2 cardiovascular profit rise" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
18 hours ago
- Business
- Yahoo
Boston Scientific lifts annual profit forecast, sees smaller tariff impact
By Padmanabhan Ananthan (Reuters) -Boston Scientific raised its annual profit forecast on Wednesday, banking on strong demand for its heart devices, and trimmed its expectation for tariff-related costs to half of the previously projected amount. Shares of the company rose 4.8% in morning trading following the results. "Based on the current schedule of expected tariffs, we now anticipate a full-year headwind of about $100 million, down from a $200 million estimate," CFO John Monson said during a call with analysts. The company expects to offset the remaining tariff impact through strong sales performance, favorable product mix and spending control, Monson added. A rise in surgical procedures has boosted sales for medical device makers such as Boston Scientific, helping counter broader concerns about healthcare spending. Executives credited strong trial results and expanded product indications for fueling physician adoption of key cardiovascular devices such as Watchman and Farapulse, the firm's main growth drivers that saw steady quarterly demand. The company said the proposed rules by the Centers for Medicare & Medicaid Services regarding certain cardiac procedures would further benefit its technologies. Farapulse, which is approved in the U.S. for some patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the pulsed field ablation (PFA) market. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. JP Morgan analyst Robbie Marcus said the profit forecast raise was larger than many had expected, especially given Boston Scientific is now moving past the initial U.S. rollout of Farapulse. "That said, the outlook still appears conservative to us," Marcus added. Boston Scientific now expects 2025 adjusted profit of $2.95 to $2.99 per share, up from its prior view of $2.87 to $2.94. It posted adjusted profit of 75 cents per share for the second quarter, topping analysts' average estimate of 72 cents, according to LSEG. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
19 hours ago
- Business
- CTV News
Boston Scientific lifts annual profit view on steady heart devices demand
Medical devices are seen at Ochsner Medical Center in the New Orleans suburb of Jefferson, La., on Tuesday, Aug.11, 2021. (AP Photo/Stacey Plaisance) 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
Irish Examiner
21 hours ago
- Business
- Irish Examiner
Heart device sales help Boston Scientific beat profit estimates
Biomedical firm Boston Scientific has raised its annual profit forecast after strong demand for its heart devices helped the US medical device maker beat second-quarter 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
Yahoo
a day ago
- Business
- Yahoo
Boston Scientific lifts annual profit view on steady heart devices demand
(Reuters) -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% 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 $2.95 to $2.99 per share, up from the prior view of $2.87 to $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 $3.34 billion, surpassing estimates of $3.20 billion. Revenue came in at $5.06 billion for the quarter, topping estimates of $4.9 billion.
