Boston Scientific reports preliminary sales in line with expectations
Boston Scientific Corp. reported Tuesday it preliminary fourth-quarter sales of $2.56 billion, up 6.3% from a year ago and in line with the FactSet consensus. The medical technology company's stock was still inactive in premarket trade. Among its business units, MedSurg revenue rose 7.5% to $800 million, Rhythm and Neuro sales grew 5.3% to $790 million and Cardiovascular sales increased 6.4% to $970 million. The company is expected to report full fourth-quarter results in early February. The stock has lost 7.7% over the past three months, while the SPDR Health Care Select Sector ETF has declined 8.5% and the S&P 500 has shed 11.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.