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Boston Scientific Corp BSX

Morningstar Rating
$67.43 +0.30 (0.45%)
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Company Report

Boston Scientific Earnings: All Eyes Are on Farapulse to Drive Growth in 2024

Narrow-moat Boston Scientific posted impressive fourth-quarter results that continued the strength seen in earlier quarters and generally met our expectations. As a result, we're holding steady on our fair value estimate. Quarterly operational revenue growth of 13% exceeded our estimates slightly, while better-than-expected gross margin in 2023 was offset by higher-than-expected spending on sales and marketing. Nevertheless, Boston remains in a strong position to grow faster than the medtech market again in 2024 thanks to U.S. rollout of Farapulse (pulsed field ablation, or PFA) for atrial fibrillation and continued adoption of Watchman FLX.

Price vs Fair Value

BSX is trading at a 23% premium.
Price
$67.43
Fair Value
$78.00
Uncertainty
Medium
1-Star Price
$11.32
5-Star Price
$31.60
Economic Moat
Wslzzyr
Capital Allocation
Lfzxsrx

Bulls Say, Bears Say

Bulls

Boston remains one of the top players when it comes to intellectual property in the medical technology arena, which bodes well for its ability to innovate enough to keep up with rivals.

Bears

Boston's coronary stent business is less moaty than its cardiac rhythm management segment.

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News

Trading Information

Previous Close Price
$67.13
Day Range
$66.8067.45
52-Week Range
$46.2067.45
Bid/Ask
$66.83 / $67.49
Market Cap
$98.93 Bil
Volume/Avg
7.9 Mil / 6.3 Mil

Key Statistics

Price/Earnings (Normalized)
32.89
Price/Sales
6.93
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield

Company Profile

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, upper gastrointestinal tract diagnostics, interventional oncology, neuromodulation for chronic pain, 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.
Sector
Healthcare
Industry
Medical Devices
Stock Style Box
Large Growth
Total Number of Employees
48,000

Competitors

Valuation

Metric
BSX
ABT
EW
Price/Earnings (Normalized)
32.8927.0434.67
Price/Book Value
5.135.397.87
Price/Sales
6.935.238.83
Price/Cash Flow
30.1421.5637.29
Price/Earnings
BSX
ABT
EW

Financial Strength

Metric
BSX
ABT
EW
Quick Ratio
0.631.162.08
Current Ratio
1.321.643.38
Interest Coverage
8.4110.8687.98
Quick Ratio
BSX
ABT
EW

Profitability

Metric
BSX
ABT
EW
Return on Assets (Normalized)
8.92%10.63%17.13%
Return on Equity (Normalized)
16.33%20.87%24.32%
Return on Invested Capital (Normalized)
11.43%14.81%21.12%
Return on Assets
BSX
ABT
EW
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Medical Devices Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
ABT
Abbott LaboratoriesHmzmj$208.3 Bil
SYK
Stryker CorpCvdjr$135.3 Bil
MDT
Medtronic PLCVfkkq$112.9 Bil
EW
Edwards Lifesciences CorpNbdqkn$52.3 Bil
DXCM
DexCom IncZcqs$47.1 Bil
ZBH
Zimmer Biomet Holdings IncRbvk$25.7 Bil
ALGN
Align Technology IncLbykfb$23.1 Bil
PHG
Koninklijke Philips NV ADRGnmqlj$18.4 Bil
PODD
Insulet CorpDpkvnk$11.7 Bil

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