Boston Scientific Jumps On Upbeat Q2, FY22 Guidance - Boston Scientific (NYSE:BSX)

Boston Scientific Corp BSX generated net sales of $3.026 billion in Q1 FY22, beating the Wall Street estimate of $2.95 billion.
Sales increased 10% Y/Y on a reported basis, 12.6% on an operational basis, and 9.7% on an organic basis, better than the management estimate of approximately 5% - 8%.
The Company achieved an adjusted EPS of $0.39, in line with the consensus and the guidance of $0.38 - $0.40.
Revenues from MedSurg increased 9.1% to $1.15 billion (8% organic), Cardiovascular segment generated $1.87 billion, +11.4% (10.8% organic).
The adjusted gross margin expanded from 67.5% to 68.4%. It posted an adjusted operating income margin of 25.8% compared to 24.3% a year ago.
Outlook: Boston Scientific estimates net sales growth for Q2 of 3% - 6%, with adjusted EPS of $0.41 - $0.43, compared to the consensus of $0.44.
For FY22, the Company estimates sales growth of approximately 7%-9%, versus the earlier range of 6% - 8%.
BSX forecasts FY22 EPS of $1.74-$1.79 (prior range of $1.73 - $1.79) compared to the consensus of $1.77.
Price Action: BSX shares are up 2.42% at $43.63 during the market session on the last check Wednesday.