Benzinga | Apr 28, 2021 02:23PM EDT

Boston Scientific Stock Jumps On Q1 Earnings Beat, Improved Guidance

* Boston Scientific Corporation (NYSE: BSX) Q1 sales grew by 5.9% (organically) to $2.75 billion, beating the previous guidance range between negative 3% and 3% in the quarter, better than the consensus estimate $2.62 billion.

* EPS of $0.37 beat the analyst consensus estimate of $0.31 versus $0.28 a year ago.

* The company said that the return of elective or non-essential procedures could be seen in some of its business lines more susceptible to the effects of the pandemic, such as urology and neuromodulation.

* The Medical surgical segment sales popped 11.1% as the rhythm/neurological and cardiovascular businesses grew 6.8% and 10%, respectively.

* Broad-based strength with a rebound in ERCP procedures drove growth in products such as SpyGlass DS, Discover, and AXIOS; EXALT Model D momentum is improving as hospitals establish new protocols and increased hospital access.

* The company raised its full-year guidance. Organic revenue growth for 2021 is expected 15% to 18% above 2020 results and 2% to 5% above 2019, increasing the lower end of the ranges by roughly 2% to 3%.

* Boston Scientific boosted its full-year guidance. The company forecasts 16%-19% net sales growth and adjusted earnings of $1.53-$1.60 per share.

* For the second quarter, Boston Scientific guided to 46%-50% sales growth and 36-38 cents profit per share.

* Q1 Earning Presentation.

* Price Action: BSX shares are up 4.7% at $44.4 in market trading hours on the last check Wednesday.