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