(Reuters) -Boston Scientific raised its annual profit forecast on Wednesday, after the medical device maker beat third-quarter profit estimates on strong demand for its heart devices.
The company, which generates most of its revenue from heart devices such as pacemakers and stents, has benefited from rising demand for surgical procedures, helping offset broader concerns over healthcare spending.
Larger rival Johnson & Johnson last week also reported a 6.8% rise in quarterly medical devices sales.
Boston Scientific, last week, said it will buy the remaining equity in privately held Nalu Medical for about $533 million in cash, expanding its portfolio of treatments for chronic pain.
Boston Scientific, which also makes equipment for gastrointestinal and pulmonary treatments, expects 2025 adjusted profit per share to be between $3.02 and $3.04, compared to its prior range of $2.95 to $2.99.
It said last quarter that the company anticipates a full-year tariff headwind of about $100 million, down from $200 million it expected earlier.
The company expects fourth-quarter adjusted profit per share to be between 77 cents and 79 cents compared to analysts’ estimate of 76 cents per share, according to data compiled by LSEG.
The Massachusetts-based company posted third-quarter adjusted profit of 75 cents per share, above estimates of 71 cents per share.
Its quarterly revenue came in at $5.07 billion, topping expectations of $4.97 billion.
The company’s cardiovascular unit posted quarterly sales of $3.34 billion, beating estimates of $3.27 billion.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Vijay Kishore)
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