By Dave Sebastian
Boston Scientific Corp. raised its outlook for 2021 and made projections for the second quarter as it reported higher first-quarter profit and sales.
The Marlborough, Mass.-based medical-products company on Wednesday said it sees full-year net sales growth of about 16% to 19%, or about 15% to 18% on an organic basis. In February, it guided for a sales growth of 13% to 19%, or 12% to 18% on an organic basis.
The company said it expects full-year earnings of 81 cents a share to 88 cents a share, or $1.53 a share to $1.60 a share on an adjusted basis. It previously guided for earnings of 72 cents a share to 82 cents a share, or $1.50 a share to $1.60 a share on an adjusted basis.
For the second quarter, Boston Scientific said it sees net sales growing about 46% to 50%, or about 44% to 48% on an organic basis. It expects earnings of 16 cents a share to 18 cents a share, or 36 cents a share to 38 cents a share on an adjusted basis.
Organic sales exclude the effect of foreign-currency fluctuations and the acquisition of Preventice Solutions Inc., with no prior period related net sales, as well as the intrauterine health franchise, which the company divested in the second quarter of 2020, and the specialty pharmaceuticals business, which the company divested in the first quarter of 2021.
Shares rose 2.8% in premarket trading.
Write to Dave Sebastian at email@example.com
(END) Dow Jones Newswires
April 28, 2021 07:08 ET (11:08 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.