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1. Company Snapshot

1.a. Company Description

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide.It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular.The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.


It also provides medical technologies to diagnose and treat rate and rhythm disorders of the heart comprising 3-D cardiac mapping and navigation solutions, ablation catheters, diagnostic catheters, mapping catheters, intracardiac ultrasound catheters, delivery sheaths, and other accessories; spinal cord stimulator systems for the management of chronic pain; indirect decompression systems; and deep brain stimulation systems.In addition, the company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as various peripheral vessels; and structural heart therapies.Further, it provides stents, balloon catheters, wires, and atherectomy systems to treat arterial diseases; thrombectomy and acoustic pulse thrombolysis systems, wires, and stents to treat venous diseases; and peripheral embolization devices, radioactive microspheres, ablation systems, cryotherapy ablation systems, and micro and drainage catheters to treat cancer.


The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.

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1.b. Last Insights on BSX

Boston Scientific's recent performance was negatively impacted by cautious 2026 guidance, which disappointed investors despite the company's Q4 earnings and revenue beating estimates. Weaker electrophysiology sales also reset growth assumptions. Additionally, insider selling, including by CEO Michael F., contributed to the stock's decline. A securities fraud investigation was announced, potentially concerning possible violations of federal securities laws. The company's Q4 earnings report showed mixed results, with some key metrics comparing favorably to Wall Street estimates and year-ago values.

1.c. Company Highlights

2. Boston Scientific's Strong 2025 Performance Sets Stage for Continued Growth

Boston Scientific delivered a robust financial performance in 2025, with operational sales growing 19% and organic sales increasing 16% for the full year, exceeding guidance. The company's adjusted EPS of $3.06 grew 22% versus 2024, also surpassing the high end of the guidance range. In the fourth quarter, operational sales grew 14%, with organic sales growing 13%, and adjusted EPS of $0.80 grew 15%, exceeding the high end of the guidance range. As Mike Mahoney, Chairman and Chief Executive Officer, highlighted, the company achieved over $20 billion in sales and delivered mid-teens growth for the second year in a row, surpassing their financial goals.

Publication Date: Feb -05

📋 Highlights
  • Q4 Operational Sales Growth: Surpassed guidance with 14% growth (13% organic), while full-year sales grew 19% (16% organic).
  • Adjusted EPS Outperformed Guidance: Q4 adjusted EPS rose 15% to $0.80 (vs. $0.77–$0.79 guidance); full-year EPS grew 22% to $3.06 (vs. $3.02–$3.04 guidance).
  • U.S. Market Dominance: Q4 U.S. sales grew 17% (26% full-year), driven by EP, WATCHMAN, and ICTx units, exceeding global performance.
  • Cardiovascular Segment Leadership: Delivered 16% operational growth in Q4 and 22% full-year, reflecting strength in PFA and EP technologies.
  • 2026 Guidance: Forecasts 10–11% organic revenue growth and 12–14% EPS growth, with $3.43–$3.49 adjusted EPS target.

Segment Performance

The company's business units demonstrated strong performance, with the U.S. growing 17% in the fourth quarter and 26% on a full year basis. The Cardiovascular segment delivered 16% growth operationally and organic in the fourth quarter and 22% operationally and 21% organic on a full year basis. The EP business, in particular, is expected to continue growing above market, with a 15% market growth rate expected for 2026. The company's WATCHMAN business also showed significant growth, with a 29% increase in the fourth quarter.

Guidance and Outlook

For 2026, Boston Scientific expects organic growth of 8.5% to 10% for Q1 and 10% to 11% for the full year, with adjusted EPS guidance of $3.43 to $3.49, representing leveraged double-digit EPS growth of 12% to 14%. The company is confident in its ability to deliver on its full-year guidance, driven by strength in its EP and WATCHMAN businesses, as well as other business units. With a current P/E Ratio of 40.12 and an EV/EBITDA of 24.44, the market appears to be pricing in significant growth expectations.

Valuation and Growth Prospects

Analysts estimate next year's revenue growth at 10.8%, which is in line with the company's guidance. The actual EPS of $0.80 beat estimates of $0.78, indicating a strong execution. With a ROE of 12.42% and an ROIC of 7.54%, the company is generating strong returns on its investments. The Net Debt / EBITDA ratio of 2.14 suggests a manageable debt burden. Overall, Boston Scientific's strong performance, diversified growth drivers, and confident outlook position the company for continued success.

3. NewsRoom

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Levi & Korsinsky Investigates Possible Securities Fraud by Boston Scientific Corporation (BSX)

Feb -10

Source: newsfilecorp.com

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Securities Fraud Investigation Into Boston Scientific Corporation (BSX) Announced – Shareholders Who Lost Money Urged To Contact Glancy Prongay Wolke & Rotter LLP, a Leading Securities Fraud Law Firm

Feb -09

Source: businesswire.com

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Oppenheimer Asset Management Inc. Acquires 95,402 Shares of Boston Scientific Corporation $BSX

Feb -09

Source: defenseworld.net

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Fraud Investigation Opened: Levi & Korsinsky Investigates Boston Scientific Corporation (BSX) on Behalf of Shareholders

Feb -09

Source: newsfilecorp.com

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Boston Scientific Corporation (BSX) Shareholders Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation

Feb -06

Source: businesswire.com

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Reassessing The Boston Scientific Bull Thesis

Feb -06

Source: forbes.com

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Securities Fraud Investigation Into Boston Scientific Corporation (BSX) Announced – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

Feb -06

Source: businesswire.com

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The TAVR Pioneer Bets Everything on One Market as Its Competitor Spreads Risk

Feb -06

Source: 247wallst.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (7.44%)

6. Segments

Cardiovascular (Incl. Rhythm)

Expected Growth: 7.3%

Boston Scientific Corporation's Cardiovascular and Rhythm Management segment is expected to grow due to increasing adoption of minimally invasive treatments and rising demand for cardiac resynchronization therapy devices. Additionally, the company's portfolio of electrophysiology products will drive growth.

Med Surg

Expected Growth: 7.7%

Boston Scientific's medical and surgical products are expected to grow driven by increasing demand for minimally invasive procedures, an aging population, and a growing need for healthcare cost containment.

7. Detailed Products

Cardiac Rhythm Management (CRM) Devices

Devices that help regulate the heartbeat, including pacemakers, implantable cardioverter defibrillators (ICDs), and cardiac resynchronization therapy (CRT) devices.

Electrophysiology (EP) Products

Devices and catheters used to diagnose and treat abnormal heart rhythms, including ablation catheters and diagnostic catheters.

Endoscopy Products

Devices and instruments used to visualize and treat conditions in the digestive tract, including endoscopes, balloons, and snares.

Interventional Cardiology Products

Devices and systems used to treat coronary artery disease, including angioplasty balloons, stents, and guidewires.

Neuromodulation Products

Devices and systems used to treat chronic pain, movement disorders, and other neurological conditions, including spinal cord stimulators and deep brain stimulators.

Peripheral Interventions Products

Devices and systems used to treat peripheral artery disease, including angioplasty balloons, stents, and atherectomy systems.

Urology and Pelvic Health Products

Devices and systems used to treat urological and pelvic health conditions, including urinary incontinence, pelvic organ prolapse, and kidney stones.

8. Boston Scientific Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Boston Scientific Corporation faces moderate threat from substitutes, as patients may opt for alternative treatments or products from other companies, but the company's strong brand reputation and product offerings mitigate this threat to some extent.

Bargaining Power Of Customers

Boston Scientific Corporation has a diverse customer base, which reduces the bargaining power of individual customers, and the company's strong relationships with hospitals and healthcare providers further limit customer bargaining power.

Bargaining Power Of Suppliers

Boston Scientific Corporation relies on a network of suppliers for raw materials and components, and while the company has some bargaining power due to its size, suppliers may still exert some pressure on prices and delivery terms.

Threat Of New Entrants

The medical device industry has high barriers to entry, including significant research and development costs, regulatory hurdles, and the need for specialized expertise, making it difficult for new entrants to challenge Boston Scientific Corporation's market position.

Intensity Of Rivalry

The medical device industry is highly competitive, with several established players, including Medtronic, Abbott, and Johnson & Johnson, competing fiercely for market share, which increases the intensity of rivalry for Boston Scientific Corporation.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 32.99%
Debt Cost 3.95%
Equity Weight 67.01%
Equity Cost 7.79%
WACC 6.52%
Leverage 49.23%

11. Quality Control: Boston Scientific Corporation passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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AbbVie

A-Score: 6.7/10

Value: 3.1

Growth: 4.7

Quality: 7.2

Yield: 7.0

Momentum: 9.5

Volatility: 9.0

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Abbott

A-Score: 6.3/10

Value: 2.8

Growth: 5.9

Quality: 7.8

Yield: 4.0

Momentum: 7.5

Volatility: 9.7

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McKesson

A-Score: 6.1/10

Value: 5.4

Growth: 8.3

Quality: 4.5

Yield: 0.0

Momentum: 9.5

Volatility: 8.7

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Stryker

A-Score: 5.3/10

Value: 1.4

Growth: 6.4

Quality: 6.6

Yield: 2.0

Momentum: 5.0

Volatility: 10.0

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Boston Scientific

A-Score: 5.2/10

Value: 1.2

Growth: 6.6

Quality: 6.8

Yield: 0.0

Momentum: 7.5

Volatility: 9.3

1-Year Total Return ->

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DexCom

A-Score: 4.3/10

Value: 1.5

Growth: 9.1

Quality: 6.8

Yield: 0.0

Momentum: 3.5

Volatility: 4.7

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

74.25$

Current Price

74.25$

Potential

-0.00%

Expected Cash-Flows