Boston Scientific Meets Profit Estimates, Outlook Falls Short

Boston Scientific Corp. said Wednesday it had net income of $87 million, or 6 cents a share, in the fourth quarter, down from $108 million, or 8 cents a share, in the year-earlier period. Adjusted per-share earnings came to 22 cents, in line with the FactSet consensus. Sales rose to $1.887 billion, up 7% from a year ago and compared with the FactSet consensus of $1.901 billion. The biotech company is now expecting first-quarter adjusted EPS of 19 cents to 21 cents, just below the FactSet consensus of 22 cents. Sales are forecast at $1.74 billion to $1.80 billion, compared with the FactSet consensus of $1.828 billion. Shares were not yet active in premarket trade, but are up 10.1% in the last three months, while the S&P 500 has gained 1.9%.