Boston Scientific Corp. posted a first-quarter profit of $97 million on Wednesday as medical procedures ticked up in late winter.
The Massachusetts-based device maker edged Wall Street expectations with adjusted earnings-per-share of 39 cents and sales of more than $3 billion, up 10%.
Chief Executive Mike Mahoney said the company benefited from increased volume of procedures during the first quarter. After a slow January, business picked up in February and March.
The company also raised its 2022 full-year outlook for net sales, which is now expected to grow between 7% and 9%.
"Even with a strong start to the year, we're pleasantly surprised to see management raising the organic sales guide," J.P. Morgan analyst Robbie Marcus wrote in a note.
The Watchman device, which reduces the risk of stroke for patients with atrial fibrillation and aims to get them off blood thinners, led growth for the quarter. Organic sales of product line were up 33% compared to a year ago. The updated Watchman FLX debuted last year.
"The primary driver of this business continues to be the U.S.," Mahoney told analysts about Watchman, with more products in development.
"There's a really strong cadence of new products behind Watchman coming in the next three years."