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Boston Scientific (BSX) Expands Globally Amid FX Concerns
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Boston Scientific (BSX - Free Report) is gaining traction in the emerging markets. Also, accretive acquisitions and significant progress in terms of innovation buoy optimism. Yet, unfavorable currency movement and macroeconomic concerns are major dampeners. The stock carries a Zacks Rank #3 (Hold).
Boston Scientific continues to expand its operations across different geographies outside the United States. In 2022, 40% of the company’s consolidated revenues came from international regions.
Among its international regions, the company is particularly focusing on expanding its foothold in emerging markets. In Europe, Middle East and Africa too, Boston Scientific is successfully expanding its base, banking on its diverse portfolio, new launches and commercial execution with healthy underlying market demand.
Following the pandemic-led mayhem, Boston Scientific is consistently registering fast recovery within its MedSurg segment. The Endoscopy business within MedSurg is gaining from strong worldwide demand for its broad range of gastrointestinal and pulmonary treatment options. Within Urology, Boston Scientific continues to expand market share globally. The company’s Stone management franchise is growing well, led by LithoVue Single-Use Digital Flexible Ureteroscope System.
Boston Scientific’s structural heart programs are fast building momentum, banking on the strong performance of the WATCHMAN left atrial appendage closure device.
We are also impressed with Boston Scientific’s several recent acquisitions that have added numerous products (though many are under development) with immense potential. This, in turn, should help boost the top line in the long term.
In April 2023, Boston Scientific closed the Apollo Endosurgery acquisition. It will further the company’s category leadership strategy within the growing area of endoluminal surgery with differentiated technologies like OverStitch and xTAC and provide entry into the adjacent endobariatric market.
Over the past year, Boston Scientific has outperformed the industry it belongs to. The stock has gained 22.3% against the industry’s 3.5% dip.
On the flip side, the industry-wide trend of challenging macroeconomic conditions in the form of inflation, disruptions in economic activity, global supply chains and labor markets, volatile financial market dynamics and significant volatility in price and availability of goods and services are putting pressure on Boston Scientific’s profitability.
Further, international conflicts, including the Russia-Ukraine war and tension between China-Taiwan, have increased cybersecurity risks on a global basis.
With Boston Scientific recording 40% of its sales from the international market, it remains highly exposed to currency fluctuations. Unfavorable currency movements have been a major dampener over the last few quarters as in the case of other important MedTech players too.
Haemonetics’stock has risen 11.5% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 148.6% in the past year against the industry’s decline of 5%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 16.8% in the past year against the industry’s fall of 5.1%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Boston Scientific (BSX) Expands Globally Amid FX Concerns
Boston Scientific (BSX - Free Report) is gaining traction in the emerging markets. Also, accretive acquisitions and significant progress in terms of innovation buoy optimism. Yet, unfavorable currency movement and macroeconomic concerns are major dampeners. The stock carries a Zacks Rank #3 (Hold).
Boston Scientific continues to expand its operations across different geographies outside the United States. In 2022, 40% of the company’s consolidated revenues came from international regions.
Among its international regions, the company is particularly focusing on expanding its foothold in emerging markets. In Europe, Middle East and Africa too, Boston Scientific is successfully expanding its base, banking on its diverse portfolio, new launches and commercial execution with healthy underlying market demand.
Boston Scientific Corporation Price
Boston Scientific Corporation price | Boston Scientific Corporation Quote
Following the pandemic-led mayhem, Boston Scientific is consistently registering fast recovery within its MedSurg segment. The Endoscopy business within MedSurg is gaining from strong worldwide demand for its broad range of gastrointestinal and pulmonary treatment options. Within Urology, Boston Scientific continues to expand market share globally. The company’s Stone management franchise is growing well, led by LithoVue Single-Use Digital Flexible Ureteroscope System.
Boston Scientific’s structural heart programs are fast building momentum, banking on the strong performance of the WATCHMAN left atrial appendage closure device.
We are also impressed with Boston Scientific’s several recent acquisitions that have added numerous products (though many are under development) with immense potential. This, in turn, should help boost the top line in the long term.
In April 2023, Boston Scientific closed the Apollo Endosurgery acquisition. It will further the company’s category leadership strategy within the growing area of endoluminal surgery with differentiated technologies like OverStitch and xTAC and provide entry into the adjacent endobariatric market.
Over the past year, Boston Scientific has outperformed the industry it belongs to. The stock has gained 22.3% against the industry’s 3.5% dip.
On the flip side, the industry-wide trend of challenging macroeconomic conditions in the form of inflation, disruptions in economic activity, global supply chains and labor markets, volatile financial market dynamics and significant volatility in price and availability of goods and services are putting pressure on Boston Scientific’s profitability.
Further, international conflicts, including the Russia-Ukraine war and tension between China-Taiwan, have increased cybersecurity risks on a global basis.
With Boston Scientific recording 40% of its sales from the international market, it remains highly exposed to currency fluctuations. Unfavorable currency movements have been a major dampener over the last few quarters as in the case of other important MedTech players too.
Key Picks
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’stock has risen 11.5% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 148.6% in the past year against the industry’s decline of 5%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 16.8% in the past year against the industry’s fall of 5.1%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.