Boston Scientific reports 9% annual sales growth
Photo | TMS Aerial Solutions
Boston Scientific's Marlborough headquarters
Boston Scientific Corp., the medical device manufacturer in Marlborough, reported its sales grew by 13% in the fourth quarter, according to the company’s filing with the U.S. Securities and Exchange Commission on Tuesday.
In the preliminary earnings report for the period from Oct. 1 through Dec. 31, the company had revenues of $2.9 billion. That’s up from nearly $2.6 billion for the same period in 2018.
The maker of defibrillators, pacemakers, and remote patient monitoring and diagnostic devices among other products, said for the full year 2019, the company generated sales, based upon preliminary unaudited financial information, of $10.7 billion. This represents a 9.3% growth on a reported basis compared to 2018.
The financial results reported Tuesday were preliminary, and Boston Scientific didn't report its profits or earnings per share, as it is still closing out its fourth quarter. However, the companies estimated it would exceed its projected 75 cents per share earnings for the year, once all the financials are finalized.
Still, shares of Boston Scientific Corp. were down 8% to $43.81 per share in trading on the New York Stock Exchange as of 11:15 a.m. Tuesday, while the S&P 500 and the Dow Jones Industrial Average were largely flat. Boston Scientific's sales growth of 13% for the fourth quarter and 9% for the years both came in at the low end of its projections.
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