Boston Scientific Reports Better-than-expected Sales During Third Quarter

Boston Scientific Corp. shares were up 4% in pre-market trade on Wednesday following its third-quarter earnings report. The biotech company reported a loss of $198 million, or 15 cents per share, compared with last year's same period income of $43 million, or 3 cents per share. The company posted adjusted earnings per share of 24 cents for the third quarter, compared with 20 cents in prior-year period. The FactSet consensus on EPS was 23 cents. Sales reached $1.88 billion during the quarter, up 2% from last year's $1.84 billion. FactSet's sales consensus was $1.86 billion. During the quarter, Boston Scientific received approval from the Food and Drug Administration for a new system to help treat patients with peripheral artery disease, and also closed an acquisition that will strengthen the company's position in urology and pelvic health. Boston Scientific shares are up nearly 27% in the year to date, outperforming the S&P 500 index, up 0.34%.