Boston Scientific rises following 3Q report
Shares of Boston Scientific Corp. climbed today as Wall Street appeared to focus on the positive aspects of the Natick-based medical device maker's third-quarter results.
The company's shares rose as much as 12.2 percent. In afternoon trading they were up 65 cents, or 10.9 percent, at $6.62. The broader market was also up significantly following Tuesday's decline.
Sales of both the company's key products, implantable heart rhythm devices and drug-coated stents, fell during the third quarter. But its profit and revenue were both greater than analysts expected.
The company issued a fourth-quarter forecast that was similar to Wall Street estimates, and it raised its adjusted profit forecast while narrowing its revenue outlook.