The medical device maker cites weaker-than-expected demand for its Watchman heart implant, pressuring revenue growth in key quarters.
Boston Scientific reduced its annual profit forecast after softer demand for its Watchman device, a stroke-prevention implant for atrial fibrillation patients. The company expects flat revenue growth for the device in the second and third quarters, driven by a decline in standalone procedures as physicians increasingly combine it with other treatments during single visits.
Second-quarter adjusted earnings reached $0.86 per share, surpassing the $0.83 estimate, while revenue hit $5.44 billion, above the $5.36 billion forecast. The cardiovascular unit, which includes the Watchman device, faced headwinds despite overall strong performance.
Shares rose nearly 4% in premarket trading following the earnings beat. The company also announced a restructuring plan to cut costs and optimize operations, aiming for completion by 2029.