Boston Scientific Cuts Profit Forecast Amid Watchman Demand Miss
On Wednesday, Boston Scientific reported that their net sales for the second quarter hit $5.44 billion, with adjusted earnings coming in at $0.86 per share, surpassing their own expectations. However, they’ve cut their profit forecast for the year because demand for the Watchman heart implant—a key device for preventing strokes in atrial fibrillation patients—has been underwhelming. This news led to a drop in their stock during after-hours trading as investors reacted to the adjusted outlook. While the company remains optimistic about its other products, they acknowledged the need to adjust their expectations for the Watchman, as analysts were hoping for better market results. Now, adjusted earnings are expected to be at the lower end of their earlier projections.
Key facts
- Boston Scientific posted Q2 net sales of $5.44 billion.
- Adjusted earnings were $0.86 per share, beating guidance.
- Full-year profit forecast was trimmed due to weak Watchman demand.
- Watchman heart implant sales fell short of expectations.
- Stock dropped in after-hours trading.
- Watchman is used for stroke prevention in atrial fibrillation patients.
- Company expects full-year adjusted earnings at lower end of range.
- Other product lines remain strong.
Entities
Institutions
- Boston Scientific
Sources
- Quartz —