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Unexpectedly strong ICD sales for Medtronic buoy Boston Scientific

Tue, 11/19/2013 - 9:59am
Mass Device

Shares of Boston Scientific gain after Medtronic's fiscal 2nd-quarter results reveal higher-than-expected sales for its implantable cardioverter defibrillators.

UPDATE: Unexpectedly strong ICD sales for Medtronic buoys Boston Scientific

Medtronic posted stronger-than-expected U.S. sales growth for its implantable cardioverter defibrillators, buoying shares of ICD rival Boston Scientific.

Medtronic's U.S. ICD sales grew 3.9% during its fiscal 2014 2nd quarter ended Oct. 25, rising to $427 million compared with $411 million during Q2 2013. International ICD sales also grew, rising 2.9% to $286 million, for worldwide ICD sales growth to $713 million, or 3.5%.

"Second-quarter revenue from ICDs was $713 million, an increase of 4 percent on a constant currency basis in a market that continues to show a trend toward stabilization," Medtronic said.

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