Topic: How To Invest

Power Growth Investor Hotline – Friday, April 26, 2024

Article Excerpt

BOSTON SCIENTIFIC CORP., $73.17, is a buy. The company (symbol BSX on New York) develops and markets medical devices used in minimally invasive procedures. Its products are used for angioplasty (blood vessel repair), blood clot filtration, cardiac rhythm management, catheter-aided ultrasound imaging, and many other surgical procedures. It generates 60% of its sales in the U.S. and 40% internationally. The stock jumped 9% this week—and continued to hit new all-time highs—after the company reported its latest results. In the three months ended March 31, 2024, Boston Scientific’s revenue rose 13.8%, to $3.86 billion from $3.39 billion a year earlier. Excluding one-time items, the company earned $832.0 million, or $0.56 a share. That was up 23.6% from $673.0 million, or $0.47. Boston Scientific recently announced the acquisition of Axonics Inc. (symbol AXNX on Nasdaq), a medical technology company primarily focused on the development and commercialization of devices to treat urinary and bowel dysfunction. The purchase price is $3.7 billion. Axonics’ product portfolio includes the Axonics…