Company Reports

Boston reported second-quarter results that included revenue of $5.44 billion (up 7% operationally) and net income of $905 million (up 14% year over year), along with a lower outlook for the full year.

Boston Scientific has proved to be a fierce competitor among the three major cardiac device makers, with a record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology, accelerating growth, and leveraging its historically formidable sales and marketing resources.

Boston Scientific reported decent first-quarter results, with 9% organic top-line growth and 6% year-over-year adjusted earnings growth. But management lowered its outlook due to softness in Watchman, a greater-than-expected share loss in electrophysiology, and personnel turnover in urology.

Boston Scientific has proved to be a fierce competitor among the three major cardiac device makers, with a record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology, accelerating growth, and leveraging its historically formidable sales and marketing resources.

Boston Scientific reported fourth-quarter results that featured operational revenue and adjusted earnings per share growth of 14% year over year, along with management expectations for midteens growth in the pulsed field ablation market in 2026.

Boston Scientific has proved to be a fierce competitor among the three major cardiac device makers, with a record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology, accelerating growth, and leveraging its historically formidable sales and marketing resources.

Boston Scientific announced its impending acquisition of Penumbra for roughly $14.5 billion, which translates into $374 per share, to be financed by a combination of Boston's cash and shares.

Boston Scientific posted third-quarter operational top-line growth of 19%. Quarterly reported operating margin of 21% was supported by cardiovascular margin improvement of 260 basis points versus the prior-year period.

Boston delivered strong second-quarter top-line and adjusted EPS growth of 23% and 21%, respectively, fueled by acquisitions and strong utilization of the Watchman and Farapulse franchises.

Boston Scientific has proven itself to be a fierce competitor among three major cardiac device makers, with a track record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology and leveraging its historically formidable sales and marketing resources.

Boston Scientific delivered strong first-quarter results, building on its hefty performance seen in 2024, as adoption of Farapulse and Watchman have impressed.

Boston Scientific has proven itself to be a fierce competitor among three major cardiac device makers, with a track record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology and leveraging its historically formidable sales and marketing resources.

Boston Scientific has proven itself to be a fierce competitor among three major cardiac device makers, with a track record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology and leveraging its historically formidable sales and marketing resources.

Boston Scientific posted quarterly organic top-line and adjusted bottom-line growth of 20% and 15%, respectively, fueled by 172% year-over-year growth in electrophysiology, or EP, which includes new product Farapulse.

Boston Scientific posted stellar third-quarter results that showcased the runaway success of its pulsed field ablation, or PFA, technology, along with an extra boost from recent acquisitions. However, investment to support new product launches puts near-term pressure on margins.

Boston Scientific has proven itself to be a fierce competitor among three major cardiac device makers, with a track record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology and leveraging its historically formidable sales and marketing resources.

Boston Scientific has proven itself to be a fierce competitor among three major cardiac device makers, with a track record of meaningful innovation and impressive operational chops. Even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair Boston's underlying business or the organization's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing novel technology and leveraging its historically formidable sales and marketing resources.

Narrow-moat Boston Scientific's second-quarter results ran ahead of our expectations, and we've raised our fair value estimate to $78 per share, up from $70, after incorporating more optimistic estimates for electrophysiology, urology, and interventional cardiology. Impressive organic quarterly topline growth of 15% was fueled by strength across the MedSurg and cardiovascular portfolios. In particular, electrophysiology revenue rose 125% year over year, mainly due to the adoption of Farapulse (pulsed field ablation, or PFA) for atrial fibrillation, or AF, albeit off a small base. Nonetheless, this is the first full quarter of Farapulse performance since it was launched in the US. We think the enthusiastic reception reflects both strong execution by Boston's commercial organization, as well as underlying demand for the safety advantages of Farapulse. While teaching- and research-oriented providers seem to be comfortable with AF ablation as an option for patients, we suspect providers beyond those institutions were less comfortable with ablation than medical therapy to address the risk of stroke.

Boston Scientific saw a fast start to 2024 thanks to the much-anticipated launch of its new pulsed field ablation, or PFA, platform for atrial fibrillation, or AF. With both Farapulse PFA and the Watchman franchise performing so strongly, we’ve raised our fair value estimate to $70 per share, up from $61, to reflect our more optimistic expectations for cardiology in the 2024-26 time frame. First-quarter revenue grew 15% in constant currency, fueled by strength in cardiology and peripheral interventions. With key products growing faster than the medical device market and the impending acquisition of Axonics, Boston is well positioned to accelerate growth through the midterm and reinforce the intangible assets supporting its narrow economic moat.

Boston Scientific has solidified its footing as one of three major cardiac device makers and significantly improved its innovation and operational chops. Boston remains a tough competitor—even a prolonged period of operational and management upheaval from 2006 to 2014 wasn't enough to permanently impair the underlying business and Boston's ability to develop and commercialize new technology platforms. Under CEO Michael Mahoney, the firm has focused on introducing meaningful innovation and leveraging its historically formidable sales and marketing resources.