Boston Scientific raises profit forecast on strength in heart devices
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[October 26, 2023]
(Reuters) -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.
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![](http://archives.lincolndailynews.com/2023/Oct/26/images/ads/current/llm_lda_FOOTBALL_2023.png) 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.
(Reporting by Christy Santhosh and Mariam Sunny in BengaluruEditing
by Vinay Dwivedi)
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