Boston Scientific Lifts 2024 Profit Forecast On Strong Growth From Cardiovascular Devices, Stock Soars
Portfolio Pulse from Vandana Singh
Boston Scientific Corporation (NYSE:BSX) reported better-than-expected Q1 earnings, with revenues of $3.86 billion surpassing the consensus estimate of $3.69 billion. The company's cardiovascular segment led sales, contributing to a 13.8% year-over-year revenue increase. Adjusted EPS was $0.56, beating both consensus and management's guidance. Following these results, Boston Scientific raised its 2024 profit forecast, expecting net sales growth of 11%-13% and adjusted EPS of $2.29-$2.34. Shares soared 6.02% to $73.15.
April 24, 2024 | 4:42 pm
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POSITIVE IMPACT
Boston Scientific Corporation reported higher than expected Q1 earnings and raised its 2024 profit forecast, leading to a 6.02% increase in its stock price.
The positive earnings report and raised forecast for 2024 indicate strong financial health and growth prospects for Boston Scientific, particularly in its cardiovascular segment. This news directly impacts investor sentiment and the company's stock price, as evidenced by the 6.02% increase. The detailed financial performance and optimistic future outlook contribute to the high relevance, importance, and confidence scores.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100