Marlborough medical device company Boston Scientific reported a net sales decline of $822 million in 2020, with losses across the board accounting for a 7.7% drop from 2019’s sales. However, the company’s stock price actually increased based on the potential from upcoming acquisitions.
In addition to the sales decline, the company reported on Wednesday a net loss of $173 million, or $0.12 per share, compared to a profit of $4.7 billion in 2019.
The company also reported a fourth quarter decline of 6.8% in sales, down to $2.7 billion from sales in the fourth quarter of 2019 of $2.9 billion.
Despite the declines, the company’s stock is up more than 3.5% since the announcement to $38.74 a share. This growth has been attributed to the potential its acquisition of Preventice Solutions, which is expected to close in the middle of next year, could have on its earning potential.
