Boston Scientific Corp (NYSE:BSX) stock rose 0.26% (As on February 6, 11:20:56 AM UTC-4, Source: Google Finance) after the company forecast annual profit above Wall Street estimates, banking on steady demand for its heart devices. Manufacturers of medical devices have been benefiting from the elevated demand for elective surgical procedures in the United States, especially among older adults. Sales at the company’s cardiovascular unit rose nearly 29% to $2.94 billion in the three months ended Dec. 31, beating estimates of $2.83 billion. The company’s endoscopy unit, which includes devices used in surgical procedures that aid in weight loss, reported a 7% rise in its quarterly revenue of $690 million. Analysts were expecting the unit to report sales of $695.9 million.

Moreover, the company has announced agreements to acquire Bolt Medical, Inc., a developer of an intravascular lithotripsy advanced laser-based platform for the treatment of coronary and peripheral artery disease which is pending U.S. FDA approval and Intera Oncology Inc., a medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine, a chemotherapy drug.

Further, the company has received both U.S. Food and Drug Administration (FDA) approval and CE mark for the Vercise Cartesia X and HX Directional Leads, the first and only 16-contact directional leads designed for more precise targeting for enhanced clinical outcomes using the Vercise Genus Deep Brain Stimulation System. The company has completed the acquisition of Axonics, Inc. and has announced and completed the acquisition of Cortex, Inc., a privately held medical technology company focused on the development of a diagnostic mapping solution which aims to identify triggers and drivers outside of the pulmonary veins that are foundational to AF.

BSX in the fourth quarter of FY 24 has reported the adjusted earnings per share of 70 cents, beating the analysts’ estimates for the adjusted earnings per share of 66 cents. The company had reported the adjusted revenue growth of 22.4 percent to $4.56 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $4.43 billion.

The company expects its 2025 adjusted earnings to be in the range of $2.80 to $2.87 per share, above analysts’ average expectation of $2.81 at the midpoint, according to data compiled by LSEG. The revenue guidance for Q1 CY2025 is $4.55 billion at the midpoint, above analyst estimates of $4.44 billion.