Medical device maker Boston Scientific raised its annual profit forecast and beat estimates for third-quarter profit on Thursday as a post-pandemic rebound in elective surgeries bolstered demand for its heart devices.
A steady recovery in non-urgent surgical procedures such as hip and knee replacements, which were postponed during the pandemic, and easing staffing shortages at hospitals have boosted demand for medical devices.
The Massachusetts-based company which generates most of its revenue from sales of its heart devices such as pacemakers and stents also makes equipment for diagnosing and treating a range of gastrointestinal and pulmonary conditions.
The company now expects full-year adjusted earnings per share of $1.99 to $2.02, compared with its prior forecast of $1.96 to $2.00.
On an adjusted basis, Boston Scientific earned 50 cents per share in the quarter, compared with analysts' average estimate of 48 cents per share, according to LSEG data
https://finance.yahoo.com/news/1-boston-scientific-raises-profit-104355101.html
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