Core Insights - Boston Scientific's fourth-quarter 2024 performance was significantly influenced by its international expansion and strategic acquisitions, which present favorable growth opportunities [1][2][3] - The company's WATCHMAN devices show promising long-term growth potential, with a notable 20% year-over-year sales increase in the fourth quarter [7] Group 1: International Expansion - Boston Scientific is successfully expanding its operations in various international markets, particularly in emerging markets, which are showing strong growth potential [3] - In the Europe, Middle East, and Africa regions, the company is leveraging a diverse product portfolio and new launches to meet healthy market demand [4] - The Asia Pacific region, especially Japan and China, is contributing to growth through innovative products and effective commercial execution [4] Group 2: Strategic Acquisitions - Recent acquisitions, including Cortex, Silk Road, and Axonics, are expected to enhance Boston Scientific's product offerings and drive long-term revenue growth [5][6] - The acquisition of Intera Oncology is anticipated to expand the company's interventional oncology capabilities [6] Group 3: WATCHMAN Device Performance - The WATCHMAN left atrial appendage closure device is gaining momentum, with sales increasing by 20% year over year in the fourth quarter, supported by new procedural guidelines and positive trial data [7] Group 4: Currency Exposure - Boston Scientific faces challenges from currency fluctuations, with 40% of its sales coming from international markets, leading to a projected 100-basis-point headwind on revenues for 2025 [10] Group 5: Financial Performance - The company's shares have increased by 40.6% over the past year, outperforming the industry and S&P 500 [2] - Boston Scientific has consistently beaten earnings expectations over the last four quarters, with an average surprise of 8.25% [2][11]

Core Viewpoint - Boston Scientific (BSX) has demonstrated strong performance with a 42.4% increase in share price over the past year, significantly outperforming the industry growth of 8.5% and the S&P 500's 10.6% increase, indicating solid fundamentals and growth opportunities for investors [1] Company Overview - Boston Scientific manufactures medical devices and products for various interventional medical specialties globally, having reorganized its operational structure into two reportable segments: MedSurg and Cardiovascular [2][3] Segment Performance - The Cardiovascular segment includes the Cardiology division and Peripheral Interventions, while the MedSurg group consists of Endoscopy, Urology, and Neuromodulation [3] Growth Drivers - The upward trend in BSX's share price is driven by the strong performance of the WATCHMAN left atrial appendage closure device, with the next-generation WATCHMAN FLX and FLX Pro capturing significant market share [4] - The launch of the FARAPULSE Pulsed Field Ablation System and commercial excellence across various businesses are also contributing to share price growth, supported by a solid fourth-quarter performance and increasing revenues from both reportable segments [5] Strategic Acquisitions - Investors are optimistic about BSX's strategic acquisitions in 2024, including Axonics, Inc., Intera Oncology Inc., and Cortex, Inc., which are expected to bolster the company's market position [6][7] International Expansion - Boston Scientific's international expansion remains strong, with emerging markets showing robust growth despite geopolitical challenges, and the launch of the next-generation accurate Prime Valve in Europe [8] - The FARAPULSE uptake in the EMEA region and strong growth in the Asia Pacific, particularly in China, Japan, Australia, and New Zealand, contributed to revenue increases of 10.8% in EMEA and 11.1% in Asia Pacific during the fourth quarter [9] Financial Performance - For the fourth quarter of 2024, BSX reported a 27.9% rise in the cost of products sold, leading to a 138-basis points contraction in gross margin due to macroeconomic headwinds and supply chain disruptions [10] - The company is also exposed to currency fluctuations, with expectations of a 100-basis point headwind from foreign exchange on revenues for 2025 [11] Earnings Estimates - The Zacks Consensus Estimate for BSX's 2025 EPS has increased by 0.7% to $2.85, with an earnings yield of 2.9%, outperforming the industry's 1.2% [12]

Core Viewpoint - Boston Scientific (BSX) has been a highly searched stock recently, indicating potential investor interest and market activity [1] Earnings Estimates Revisions - For the current quarter, Boston Scientific is expected to report earnings of $0.67 per share, reflecting a year-over-year increase of +19.6% [5] - The Zacks Consensus Estimate for the current fiscal year is $2.85, indicating a +13.6% change from the previous year, with a +2.7% increase in estimates over the last 30 days [5] - For the next fiscal year, the consensus estimate is $3.23, showing a +13.2% change from the prior year, with a +2.2% increase in estimates over the past month [6] - The Zacks Rank for Boston Scientific is 2 (Buy), suggesting a positive outlook based on recent earnings estimate revisions [7] Revenue Growth Forecast - The consensus sales estimate for the current quarter is $4.56 billion, indicating a year-over-year increase of +18.2% [9] - For the current fiscal year, the sales estimate is $19.05 billion, reflecting a +13.8% change, while the next fiscal year's estimate is $21 billion, indicating a +10.2% change [9] Last Reported Results and Surprise History - Boston Scientific reported revenues of $4.56 billion in the last quarter, representing a +22.4% year-over-year change [10] - The reported EPS was $0.70, compared to $0.55 a year ago, with a revenue surprise of +3.52% and an EPS surprise of +7.69% [11] - The company has consistently beaten consensus EPS and revenue estimates over the last four quarters [11] Valuation - Boston Scientific has a Zacks Value Style Score of D, indicating it is trading at a premium compared to its peers [15]

Core Insights - Boston Scientific Corporation has demonstrated a strong track record of outperformance with a compound annual growth rate (CAGR) and accelerating top-line revenue growth, driven by improvements in the Weighted Average Market Growth Rate (WAMGR) [5] - The company is approaching $20 billion in revenue, which presents challenges for maintaining current growth rates, yet it has announced an expected increase in WAMGR to 9% in 2026, indicating confidence in continued market outperformance [6] Company Overview - The management team includes Dan Brennan (Chief Financial Officer), Dr. Ken Stein (Chief Medical Officer), and Art Butcher (Executive Vice President, MedSurg and APAC), who are recognized for their effective strategies that have been emulated by other large-cap medical device companies [4][5] - The executives participated in the TD Cowen 45th Annual Healthcare Conference, highlighting their engagement with industry stakeholders and commitment to transparency [1][2] Market Position - Boston Scientific has consistently outpaced its markets, showcasing its competitive advantage and effective operational playbook [5][6] - The company is positioned to leverage its historical performance and market strategies to navigate the challenges of scaling revenue as it approaches significant financial milestones [6]

Company Overview - Boston Scientific, Inc. (BSX) has signed a definitive agreement to acquire SoniVie Ltd., a privately held medical device company, for nearly $360 million upfront, with an additional $180 million contingent on regulatory milestones [1] - The transaction is expected to close in the first half of 2025, subject to customary closing conditions [1] Stock Performance - Following the acquisition announcement, BSX shares rose 1% to finish at $104.87 [2] - Over the past year, Boston Scientific shares have increased by 55.5%, compared to the industry's growth of 11.8% [10] Financial Metrics - Boston Scientific has a market capitalization of $153.17 billion [3] - The Zacks Consensus Estimate for the company's 2025 earnings per share (EPS) is $2.85, indicating a 13.6% year-over-year improvement [3] - The company has delivered an average earnings surprise of 8.3% over the trailing four quarters [3] Strategic Rationale - The acquisition of SoniVie is aimed at enhancing Boston Scientific's interventional cardiology therapy offerings, particularly in the hypertension space [2][4] - The TIVUS Intravascular Ultrasound System developed by SoniVie is designed for renal artery denervation (RDN), which can help regulate blood pressure [5] - The global renal denervation market was valued at $340.4 million in 2023 and is expected to grow at a compound annual growth rate of 40.2% through 2030 [7] Financial Impact of Acquisition - The transaction is expected to be slightly dilutive to Boston Scientific's adjusted EPS in 2025, but this will be offset by internal cost efficiencies [6] - On a GAAP basis, higher dilution is anticipated due to amortization expenses and acquisition-related charges, except for a one-time gain from the previously held equity interest in SoniVie [6] Future Prospects - The acquisition provides an opportunity for future innovation in the field of hypertension treatment, supported by strong clinical evidence and ongoing research [2] - Boston Scientific's strategy includes expanding its cardiovascular portfolio, as evidenced by a recent acquisition agreement with Bolt Medical, Inc. [9]

Core Viewpoint - Boston Scientific Corporation has announced a definitive agreement to acquire SoniVie Ltd., aiming to enhance its offerings in interventional cardiology therapies with the TIVUS™ Intravascular Ultrasound System for treating hypertension [1][4]. Company Summary - Boston Scientific is acquiring a 90% stake in SoniVie for an upfront payment of approximately $360 million, with potential additional payments of up to $180 million based on regulatory milestones [4][5]. - The acquisition is expected to be completed in the first half of 2025, subject to customary closing conditions [4]. - The transaction is anticipated to be slightly dilutive to adjusted earnings per share (EPS) in 2025, with the company planning to offset this through internal cost efficiencies [4]. Industry Summary - Hypertension is a major risk factor for cardiovascular disease, and current treatments often fall short in effectively controlling high blood pressure [2]. - The TIVUS system is designed to perform renal denervation (RDN), which may serve as an alternative or adjunctive therapy to existing anti-hypertensive medications [2][3]. - The TIVUS system utilizes ultrasound energy, which can penetrate tissue more deeply than radiofrequency energy, potentially leading to faster procedures and effective nerve ablation [2][3].

Core Viewpoint - Boston Scientific Corporation has successfully completed a public offering of €1.5 billion in notes, which will be used for debt repayment and general corporate purposes [1][2]. Group 1: Offering Details - The company issued €850 million of 3.000% notes due in 2031 and €650 million of 3.250% notes due in 2034 [1]. - The notes are fully and unconditionally guaranteed by Boston Scientific [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to repay AMS Europe's 0.750% senior notes maturing on March 8, 2025, and to cover accrued and unpaid interest on those notes [2]. - Additional uses of the proceeds may include short-term investments, reduction of short-term debt, funding of working capital, and potential future acquisitions [2]. Group 3: Company Overview - Boston Scientific is a global leader in medical technology, focusing on innovative solutions that improve patient health and reduce healthcare costs [3]. - The company has been advancing medical science for over 45 years, providing a wide range of devices and therapies for various complex diseases [3].

Core Viewpoint - Boston Scientific Corporation announced a public offering of €850 million in 3.000% notes due 2031 and €650 million in 3.250% notes due 2034, fully guaranteed by the company [1][2] Group 1: Offering Details - The total amount of the offering is €1.5 billion, consisting of two tranches of notes [1] - The offering is expected to close on February 26, 2025, subject to customary closing conditions [2] - The notes will be used to repay AMS Europe's 0.750% senior notes due March 8, 2025, and for general corporate purposes [2] Group 2: Company Overview - Boston Scientific has been a global medical technology leader for over 45 years, focusing on innovative medical technologies that improve patient health [4] - The company provides a wide range of solutions addressing various medical conditions, including cardiovascular, respiratory, digestive, oncological, neurological, and urological diseases [4]

Boston Scientific Corporation (BSX) , despite industrywide macroeconomic upheavals,  has been seeing strong growth momentum across its target markets. Earlier this month, the company posted robust fourth-quarter 2024 results, surpassing market expectations and setting a positive outlook for 2025. These have led to upward revisions in analyst estimates.The Zacks Consensus Estimate for first-quarter 2025 earnings per share has been revised upward by 3 cents over the past 60 days, with six analysts upgrading t ...

Financial Performance - In 2024, Boston Scientific's net sales reached $16.747 billion, a 17.6% increase from $14.240 billion in 2023, driven by operational net sales growth of 18.5%[184] - The reported net income attributable to common stockholders in 2024 was $1.853 billion, or $1.25 per diluted share, compared to $1.570 billion, or $1.07 per diluted share in 2023[184] - Total net sales increased to $16.747 billion in 2024 from $14.240 billion in 2023, representing a growth of 17.6%, with operational growth of 13.1% and an 80 basis point negative impact from foreign currency fluctuations[202][203] Business Segments - The Endoscopy business generated net sales of $2.687 billion in 2024, representing 16% of consolidated net sales, with an 8.3% increase from 2023[189] - Urology products net sales were $2.200 billion in 2024, accounting for 13% of consolidated net sales, reflecting a 12.0% increase compared to 2023[191] - Neuromodulation products net sales reached $1.106 billion in 2024, a 13.3% increase from 2023, representing 7% of consolidated net sales[193] - Cardiology products net sales were $8.344 billion in 2024, a 24.4% increase from 2023, making up 50% of consolidated net sales[195] - Peripheral Interventions net sales totaled $2.410 billion in 2024, a 14.2% increase from 2023, representing 14% of consolidated net sales[197] Growth and Acquisitions - The company experienced organic net sales growth of 16.4% in 2024, with acquisitions contributing an additional 210 basis points[184] - The acquisition of Axonics in Q4 2024 positively impacted Urology's organic net sales growth by 330 basis points[191] - Boston Scientific aims to expand its global presence, particularly in Emerging Markets, to drive net sales and market share growth[199] - Emerging Markets net sales accounted for 16% of consolidated net sales in both 2024 and 2023, with a growth of 16.1% in 2024 driven by operational growth of 19.6% despite a 360 basis point negative impact from foreign currency fluctuations[200] Expenses and Profitability - Gross profit for 2024 was $11.490 billion, with a gross profit margin of 68.6%, down from 69.5% in 2023, primarily due to inventory charges and strategic manufacturing capacity investments[204][205] - Selling, General and Administrative (SG&A) expenses rose to $5.984 billion in 2024, a 15% increase from 2023, while as a percentage of net sales, it decreased by 70 basis points[209] - Research and Development (R&D) expenses increased to $1.615 billion in 2024, a 14% rise compared to 2023, reflecting the company's commitment to advancing medical technologies[211] Debt and Financing - Total debt as of December 31, 2024, was $10.746 billion, an increase from $9.102 billion in 2023, with current debt obligations rising to $1.778 billion[242] - Cash used for investing activities in 2024 was $(5.687) billion, primarily for acquisitions including Axonics and Silk Road Medical[235] - Cash provided by financing activities included $2.145 billion from the Eurobonds offering, used to fund the Axonics acquisition and repay senior notes[236] Tax and Compliance - The reported tax rate for 2024 was 19.1%, down from 19.8% in 2023, with a rate from continuing operations of 18.0%[222] - The company expects the impact of the Pillar Two global minimum tax on its 2024 tax rate to be immaterial, with similar expectations for 2025[226] - The company expects to incur significant expenditures related to compliance with the EU MDR regulatory requirements, which are not considered ordinary course expenditures[285] Restructuring and Future Plans - The company recorded restructuring charges of $16 million and restructuring-related charges of $212 million in 2024 as part of its global restructuring program[217] - The 2023 Restructuring Plan is estimated to incur total pre-tax charges of approximately $450 million to $550 million, with cash outlays expected to be between $350 million and $450 million[251] - The restructuring plan aims to reduce gross annual pre-tax expenses by approximately $225 million to $275 million as benefits are realized[251] Legal and Regulatory Matters - The company is involved in various legal and regulatory proceedings, which may require significant expenditures or impact product sales[272] - Anticipated costs of settlement and damages for product liability claims are accrued based on historical experience, with significant judgment required in estimating these accruals[272] Internal Controls and Risk Management - The company's internal control over financial reporting was assessed as effective as of December 31, 2024[289] - The independent auditor expressed an unqualified opinion on the effectiveness of the company's internal control over financial reporting[294] - The company uses a risk management program that includes derivative financial instruments to address market risks from changes in currency exchange rates and interest rates[303]