- Boston Scientific Corporation (NYSE: BSX) Q1 sales grew by 5.9% (organically) to $2.75 billion, beating the previous guidance range between negative 3% and 3% in the quarter, better than the consensus estimate $2.62 billion.
- EPS of $0.37 beat the analyst consensus estimate of $0.31 versus $0.28 a year ago.
- The company said that the return of elective or non-essential procedures could be seen in some of its business lines more susceptible to the effects of the pandemic, such as urology and neuromodulation.
- The Medical surgical segment sales popped 11.1% as the rhythm/neurological and cardiovascular businesses grew 6.8% and 10%, respectively.
- Broad-based strength with a rebound in ERCP procedures drove growth in products such as SpyGlass DS, Discover, and AXIOS; EXALT Model D momentum is improving as hospitals establish new protocols and increased hospital access.
- The company raised its full-year guidance. Organic revenue growth for 2021 is expected 15% to 18% above 2020 results and 2% to 5% above 2019, increasing the lower end of the ranges by roughly 2% to 3%.
- Boston Scientific boosted its full-year guidance. The company forecasts 16%-19% net sales growth and adjusted earnings of $1.53-$1.60 per share.
- For the second quarter, Boston Scientific guided to 46%-50% sales growth and 36-38 cents profit per share.
- Q1 Earning Presentation.
- Price Action: BSX shares are up 4.7% at $44.4 in market trading hours on the last check Wednesday.
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