Shares of Boston Scientific (BSX) - Get Free Report rose by as much as 8% Wednesday after the medical-device company reported third-quarter results that surpassed expectations and increased its full-year earnings guidance.
The Marlborough, Mass.-based company generated sales of $2.7 billion during the third quarter, up from $2.4 billion a year ago. The result was ahead of expectations of $2.6 billion, according to FactSet.
GAAP earnings of $126 million, or 9 cents a share, compared with GAAP earnings of $432 million, or 31 cents a share, a year ago. Adjusted EPS came in at 39 cents, above expectations of 38 cents, according to FactSet.
The company also estimated its full-year adjusted EPS will come in between $1.55 and $1.58, up from an earlier estimate between $1.54 and $1.58. The consensus for full-year adjusted EPS is $1.56, according to FactSet.
Boston Scientific shares were up 6.3% to $40.58 on Wednesday. The stock rose to $41.24 earlier in the session.
Save 57% during our Halloween Sale. Don't let this market haunt you and join Jim Cramer's Investment Club, Action Alerts PLUS. Click here to sign up!