Boston Scientific Corporation reported strong financial results for both the fourth quarter and full year of 2024. The company posted net sales of $4.561 billion for the fourth quarter, reflecting a 22.4% increase on a reported basis and a 19.5% rise on an organic basis, surpassing its guidance range. For the full year, net sales totaled $16.747 billion, marking a 17.6% increase compared to the previous year. The company also saw a rise in net income, with GAAP net income for the fourth quarter reaching $566 million, or $0.38 per share, up from $504 million or $0.34 per share in 2023. Adjusted EPS for the quarter was $0.70, higher than the previous year's $0.55.
The growth was driven by significant performance in the Cardiovascular segment, which saw a 28.8% increase in reported sales, and strong results from the United States, which contributed a 30.7% increase in reported sales. Boston Scientific also highlighted several key developments, including the approval of the FARAPULSE Pulsed Field Ablation System, positive clinical trial results for the WATCHMAN FLX Left Atrial Appendage Closure Device, and multiple strategic acquisitions. The company acquired Axonics, Inc. and Cortex, Inc., expanding its product offerings, while also announcing agreements to acquire Bolt Medical and Intera Oncology, further solidifying its position in the medical device industry.