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Boston Scientific Corp BSX

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Stock XNYS Rating as of
$73.26 +0.35 (0.48%)
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Company Report

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Boston Scientific Earnings: Farapulse Drives Impressive Start to 2024

Debbie Wang

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.

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Price vs Fair Value

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BSX is trading at a 13% premium.
Price
$68.99
Fair Value
$53.00
Uncertainty
Medium
1-Star Price
$27.76
5-Star Price
$25.20
Economic Moat
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Capital Allocation
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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

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Trading Information

Previous Close Price
$72.91
Day Range
$72.91–73.64
52-Week Range
$48.35–74.39
Bid/Ask
$72.85 / $73.81
Market Cap
$107.68 Bil
Volume/Avg
8.2 Mil / 6.3 Mil

Key Statistics

Price/Earnings (Normalized)
35.74
Price/Sales
7.33
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, kidney stone management, 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
Website
https://www.bostonscientific.com

Competitors

Valuation

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Metric
BSX
MDT
EW
Price/Earnings (Normalized)
 35.7414.6534.96
Price/Book Value
 5.572.037.93
Price/Sales
 7.333.278.91
Price/Cash Flow
 32.7514.4337.60
Price/Earnings
BSX
MDT
EW

Financial Strength

Metric
BSX
MDT
EW
Quick Ratio
 0.631.462.08
Current Ratio
 1.322.303.38
Interest Coverage
 8.418.8687.98
Quick Ratio
BSX
MDT
EW

Profitability

Metric
BSX
MDT
EW
Return on Assets (Normalized)
 8.92%7.75%17.13%
Return on Equity (Normalized)
 16.33%13.75%24.32%
Return on Invested Capital (Normalized)
 11.43%9.87%21.12%
Return on Assets
BSX
MDT
EW
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