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Boston Scientific Corp BSX

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Boston Scientific Delivers Solid Third Quarter; We're Leaving Our Fair Value Estimate Unchanged

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

Boston Scientific posted solid third-quarter results that leave the firm on track to meet our full-year projections on the top and bottom lines; we’re holding steady on our $45 fair value estimate. Though we had been concerned that the rise of the delta variant would dampen nonpandemic procedure growth during the quarter, the effect was relatively mild, in our view, and more than offset by the strength of new product launches. While the pandemic remains a key factor influencing near-term performance for medical device firms, we see little in the way of fundamental changes to demand or Boston’s ability to innovate. We remain confident in the firm’s narrow economic moat and its intangible assets.

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Company Profile

Business Description

Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts. It manufactures products for use in angioplasty, blood clot filtration, cardiac rhythm management, catheter-directed ultrasound imaging, structural heart disease, upper gastrointestinal tract diagnostics, interventional oncology, and treatment of incontinence. The firm markets its devices to healthcare professionals and institutions globally. Foreign sales account for nearly half of the firm's total sales.

Contact
300 Boston Scientific Way
Marlborough, MA, 01752-1234
T +1 508 683-4000
Sector Healthcare
Industry Medical Devices
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Classic Growth
Employees 38,000

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