Boston Scientific Corporation (NYSE:BSX) reported better-than-expected third-quarter results on Wednesday.
The company posted quarterly revenues of $5.07 billion on Wednesday, beating the consensus estimate of $4.97 billion. The medical technology giant reported adjusted earnings of 75 cents, beating the consensus of 71 cents and the management guidance of 70-72 cents.
Boston Scientific forecasts net sales growth of approximately 20% in 2025 on a reported basis and around 15.5% on an organic basis, compared to prior guidance of 18%-19% and 12%-14%, respectively.
The company raised its adjusted earnings guidance from $2.95-$2.99 to $3.02-$3.04, compared to the consensus of $2.98. The company sees fourth quarter adjusted earnings of 77 cents-79 cents versus consensus of 76 cents, with sales of $5.22 billion-$5.31 billion versus a consensus of $5.18 billion.
Boston Scientific shares gained 0.6% to trade at $104.40 on Thursday.
These analysts made changes to their price targets on Boston Scientific following earnings announcement.
- Morgan Stanley analyst Patrick Wood maintained Boston Scientific with an Overweight rating and raised the price target from $125 to $130.
- Wells Fargo analyst Larry Biegelsen maintained the stock with an Overweight rating and raised the price target from $124 to $125.
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