Latest news with #PulseSelect
Time of India
5 days ago
- Business
- Time of India
Boston Scientific lifts annual profit forecast, sees smaller tariff impact
Bengaluru: Boston Scientific raised its annual profit forecast on Wednesday, banking on strong demand for its heart devices , and trimmed its expectation for tariff-related costs to half of the previously projected amount. Shares of the company rose 4.8% in morning trading following the results. "Based on the current schedule of expected tariffs, we now anticipate a full-year headwind of about $100 million, down from a $200 million estimate," CFO John Monson said during a call with analysts. The company expects to offset the remaining tariff impact through strong sales performance, favorable product mix and spending control, Monson added. A rise in surgical procedures has boosted sales for medical device makers such as Boston Scientific, helping counter broader concerns about healthcare spending. Executives credited strong trial results and expanded product indications for fueling physician adoption of key cardiovascular devices such as Watchman and Farapulse, the firm's main growth drivers that saw steady quarterly demand. The company said the proposed rules by the Centers for Medicare & Medicaid Services regarding certain cardiac procedures would further benefit its technologies. Farapulse, which is approved in the U.S. for some patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the pulsed field ablation (PFA) market. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. JP Morgan analyst Robbie Marcus said the profit forecast raise was larger than many had expected, especially given Boston Scientific is now moving past the initial U.S. rollout of Farapulse. "That said, the outlook still appears conservative to us," Marcus added. Boston Scientific now expects 2025 adjusted profit of $2.95 to $2.99 per share, up from its prior view of $2.87 to $2.94.
Irish Examiner
6 days ago
- Business
- Irish Examiner
Heart device sales help Boston Scientific beat profit estimates
Biomedical firm Boston Scientific has raised its annual profit forecast after strong demand for its heart devices helped the US medical device maker beat second-quarter profit estimates. Shares of the Massachusetts-based company rose by over 3% in pre-market trading following the results. A rise in surgical procedures has benefited medical device manufacturers such as Boston Scientific, as it boosted sales and helped offset broader concerns about healthcare spending pressures. Analysts said hospital utilization trends were robust during the second quarter, with hospital checks pointing to high single-digit volume growth - well above the historical average. Boston Scientific's main growth drivers, Farapulse and Watchman, which use short high-voltage pulses to treat certain abnormal heart rhythm conditions, saw strong demand during the quarter. Farapulse, approved in the US to treat certain patients with intermittent atrial fibrillation, competes with Johnson & Johnson's Varipulse and Medtronic's PulseSelect in the market for pulsed field ablation systems. Rival Johnson & Johnson last week posted strong medtech sales, aided by its heart devices, Varipulse and Trupulse. The company reported net sales of $5.06bn (€4.33bn) during the second quarter beating estimates of $4.9bn. The majority of these sales, $3.2bn, were in the US with Europe, the Middle East, and Africa accounting for just $878m. The company's cardiovascular unit reported quarterly sales of $3.34bn, surpassing estimates of $3.20bn. 'Excellent quarter' Chairman and chief executive of Boston Scientific, Mike Mahoney, said it was another 'excellent quarter' for the company 'marked by exceptional top-line performance' which delivered 'margin expansion and prioritized investment for future growth'. Boston Scientific expects 2025 adjusted profit of $2.95 to $2.99 per share, up from the prior view of $2.87 to $2.94 earlier. It posted an adjusted profit of 75c per share for the second quarter, topping analysts' average estimate of 72 cents, according to data compiled by LSEG. Boston Scientific began operating in Ireland in 1994. It has a large campus in Cork as well as several other locations across the island. According to its company's Irish operations' most recent financial documents, it employed 6,405 during 2023. Reuters
Yahoo
21-05-2025
- Business
- Yahoo
Medtronic to Separate Diabetes Business
Medical-device maker Medtronic plans to separate its diabetes business into a stand-alone company, the company said, in a move that hives off a division that had struggled but recently returned to growth. Under Medtronic's plan, the new unnamed company will also be publicly traded, Medtronic said. The diabetes business generated nearly $2.8 billion in sales in its most recent fiscal year, ending in April, up 10.7% from the prior year. Medtronic reported more than $34 billion in sales last year. How Two CEOs Mixed Romance and Business, Leading to Scandal Senators Question Shari Redstone Over Efforts to Reach CBS Settlement With Trump Watch Me Try Google's Live Language Translator. It's Wild. It Moved the 'Eras' Tour's Equipment. Now It's Worth Over $1 Billion. Ford Poured Billions Into Two EV Battery Plants. It's Only Using Part of One. Galway, Ireland-based Medtronic, which operates out of Minneapolis, will complete the process of separation within 18 months. The transaction will allow the diabetes business to grow faster, and for Medtronic to accelerate growth of its remaining divisions, Medtronic Chief Executive Geoff Martha said in an interview. 'To realize the full potential of what we're sitting on here, it's going to need more focus than we can provide, and more investment,' he said. By getting out of diabetes, Medtronic, one of the world's largest makers of medical devices, will be free to focus on its more-profitable segments making devices for cardiovascular, neuroscience and medical surgery. 'These are higher-margin markets than the diabetes space and they better leverage our core strengths as a company,' Martha said. That includes its new PulseSelect and Affera products, which use one of the hottest technologies in the industry, that administers bursts of electricity or pulsed-field ablation, to treat irregular heartbeats in patients. It also sells Symplicity Spyral, a device to treat hypertension. Medtronic's diabetes products are sold directly to patients and consist of wearable and disposable devices. The rest of Medtronic sells more complex devices such as surgical instruments and implants commercially to physicians and hospitals. The separation caps a yearslong campaign by Medtronic to turn around its diabetes franchise since it got a warning letter from the Food and Drug Administration in 2021 regarding product safety issues for its MiniMed insulin pumps. The letter delayed the FDA's clearance of the MiniMed 780G insulin pump until 2023. The company has rolled out other new products, and this year reported the fifth consecutive quarter of double-digit growth in its diabetes division. Diabetes products include its MiniMed insulin pump, which is part of a system that automatically delivers insulin to patients based on real-time monitoring of their blood sugar levels, and pens that connect with smartphones to help patients take timely insulin injections. Among the division's devices in the works are next-generation insulin pumps and smart pens. The company also joined with Abbott in 2024 to develop a glucose sensor that will work with Medtronic's products. The new company will have 8,000 employees and be based in Northridge, Calif., where the diabetes business is located, Medtronic said. It will be led by Que Dallara, head of Medtronic's diabetes business since joining in 2022. Medtronic's shares are up more than 7% this year. Company stock has risen more than 2% in the past year. Shares were up slightly in premarket trading Wednesday. Write to Jared S. Hopkins at Google Takes Aim at AI Firms Challenging Its Search Dominance Kraft Heinz Is Evaluating Strategic Transactions Tesla Sets Record With $139 Million Pay Package for Finance Chief UnitedHealth Built a Giant. Now Its Model Is Faltering. Why Disney's 'Lilo & Stitch' Is Set to Beat 'Mission: Impossible' at the Box Office Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
