Boston Scientific Corp. said its first-quarter sales rose 11% to $1.96 billion, driven in part by new product launches by the medical devices company.

The company raised its full-year 2016 revenue guidance range to $8.08 billion to $8.23 billion, up from its previous guidance range of $7.9 billion to $8.1 billion. And it now projects 2016 earnings of $0.64 to $0.69 a share, up from $0.62 to $0.67 a share previously.

Boston Scientific, based in Marlborough, Mass., has diversified its product portfolio in recent years to help offset declines in some bread-and-butter areas like pacemakers and implanted defibrillators. The strategy appeared to pay off in the first quarter. For example, sales of its endoscopy products, which are used in minimally invasive procedures, rose 9% to $333 million.

"They've put together a very nice business in some of these lesser known categories," said Raj Denhoy, an analyst at Jefferies & Co.

Shares of Boston Scientific surged 9.1% to $21.49 in early trading on Wednesday.

Boston Scientific reported net profit of $202 million, compared with a loss of $1 million in the same period a year ago when litigation and other expenses weighed on the company's profitability.

Daniel J. Brennan, Boston Scientific's chief financial officer, said on a conference call with analysts on Wednesday that the company benefited from the launch of a new stent, which are used to prop open diseased arteries. That helped sales in its interventional cardiology business rise 13% to $613 million.

The company said so-called organic sales, which exclude foreign-currency fluctuations and the impact from a recent acquisition, rose 8% in the first quarter. The company's 8% organic growth rate was its best quarterly performance in a decade, Mr. Brennan said.

Mr. Denhoy, the Jefferies analyst, said the company's organic growth in the first quarter was a prime reason for the surge in its share price Wednesday.

"These mature medical device companies just don't grow that fast," Mr. Denhoy said.

Write to Joseph Walker at joseph.walker@wsj.com

(END) Dow Jones Newswires

April 27, 2016 11:15 ET (15:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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