Boston Scientific Corp

BSX: XNYS (USA)
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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
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Boston Scientific Earnings: Strong Start to 2023 May Moderate Through Full Year

Boston Scientific posted stellar first-quarter results that exceeded our expectations. However, we're mindful that this strength is likely to moderate through the rest of the year, and mild upward adjustments to our projections may only result in a modest bump to our fair value estimate of $45 once we also factor in the conversion of preferred stock scheduled for the second quarter. Nonetheless, the firm's pipeline and new products reinforce our confidence in Boston's narrow economic moat.

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