Boston Scientific Prelim. Organic Sales Growth Below Its Outlook; Stock Plunges

(RTTNews) - Boston Scientific Corp. (BSX) reported fourth-quarter sales, based upon preliminary unaudited financial information, of approximately $2.90 billion, up approximately 13.4 percent year-on-year on a reported basis, compared to the company's guidance range of 13 to 15 percent. On an operational basis, sales were up approximately 14.1 percent, compared to the guidance range of 14 to 16 percent. On an organic basis, sales increased approximately 7.3 percent, compared to the guidance range of 8 to 9 percent. The company estimates adjusted earnings will be within its previously issued guidance range of $0.42 to $0.45 per share for the fourth quarter of 2019.

For the full year 2019, the company recorded sales, based upon preliminary unaudited financial information, of approximately $10.74 billion, an increase of approximately 9.3 percent on a reported basis, compared to the company's guidance range of 9 to 9.5 percent. On an operational basis, sales rose approximately 11.1 percent, compared to the guidance range of 11 to 11.5 percent. On an organic basis, sales rose approximately 7.3 percent, compared to the guidance of approximately 7.5 percent. The company estimates adjusted earnings in a range of $1.55 to $1.58 for the full year 2019.

Shares of Boston Scientific Corp. were down nearly 5% in pre-market trade on Tuesday.