Boston Scientific meets 3Q profit forecasts

Markets Associated Press

Boston Scientific Corp. (BSX) on Thursday reported third-quarter profit of $283 million.

Continue Reading Below

The Marlborough, Massachusetts-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, were 31 cents per share.

The results matched Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 31 cents per share.

The medical device manufacturer posted revenue of $2.22 billion in the period, exceeding Street forecasts. Ten analysts surveyed by Zacks expected $2.2 billion.

For the current quarter ending in December, Boston Scientific expects its per-share earnings to range from 32 cents to 35 cents.

The company said it expects revenue in the range of $2.35 billion to $2.38 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $2.32 billion.

Continue Reading Below

Boston Scientific expects full-year earnings in the range of $1.24 to $1.27 per share, with revenue ranging from $8.99 billion to $9.02 billion.

Boston Scientific shares have risen 37 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 14 percent. The stock has increased 32 percent in the last 12 months.

_____

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BSX at https://www.zacks.com/ap/BSX