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Boston Scientific 4Q Profit Sinks as Sales Decline

By Matt Grossman

 

Boston Scientific Corp. on Wednesday posted a smaller fourth-quarter profit to finish 2020, as sales from its cardiovascular and medical-devices segments declined year over year.

The Marlborough, Mass.-based medical-products company logged a profit of 10 cents a share, compared with $2.83 a share a year earlier. Net income available to common stockholders was $138 million, down from $4 billion in the prior-year period, it said.

Boston Scientific's adjusted profit was 23 cents a share, the company said.

The company posted revenue of $2.71 billion, down from $2.91 billion.

Medical-surgical sales climbed 1.5% year over year to $892 million, but the company's other divisions lost ground. Cardiovascular sales declined 12% year over year and rhythm-and-neuro sales sank by 6.1%. The medical-devices segment was also down 6.1%, it said.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

February 03, 2021 07:11 ET (12:11 GMT)

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