Shares of Boston Scientific Corp. surged 5.2% in morning trade Tuesday, enough to make them the second-biggest gainer among S&P 500 components, after the medical technology company provided an upbeat sales outlook. The company said it expects fourth-quarter revenue that of about $2.41 billion, up 9.9% from a year ago. In comparison, the FactSet consensus of $2.35 billion represents growth of 7.4%. Among the company’s business segments, Cardiovascular sales of $910 million topped the FactSet consensus of $896 million, MedSurg sales of $930 million were above expectations of $905 million and Rhythm Management sales of $560 million were in line with expectations of $558 million. The stock has lost 7.5% over the past three months, while the SPDR Health Care Select Sector ETF has gained 3.9% and the S&P 500 has tacked on 3.9%. Separately, the S&P 500’s biggest gainer was Illumina Inc.’s stock , which rallied 5.3% after the company announced an agreement with Thermo Fisher Scientific Inc. to provider gene-sequencing researchers with broader access to Ion AmpliSeq Technology.
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