Collins Stewart Initiates Coverage on Boston Scientific (BSX) with a Hold
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Collins Stewart initiates coverage on Boston Scientific (NYSE: BSX) with a Hold.
Collins analyst says, "We believe that Management has done a good job of navigating BSX out of its post Guidant acquisition quagmire. Meaningful progress has been achieved in reducing expenses, jettisoning less promising business lines and equity investments from the product development portfolio, and resolving quality issues cited in the FDA's corporate Warning Letter. This, combined with new ICD and drug eluting stent products, is resulting in improved cash flow and debt reduction. Despite improvement in some key areas, we see numerous challenges for BSX in growing its top line, given slow growth in it's primary markets, leaving market share gains as the primary avenue for growth. Hence, with the stock now trading at a slight premium to its peers, absent further significant improvements in execution, including launching new products in a timely manner, we don t foresee the ability of BSX to significantly outperform current expectations."
To see more analyst ratings on BSX Click Here.
Boston Scientific Corporation is a developer, manufacturer, and marketer of medical devices that are used in a broad range of interventional medical specialties, including cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.
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BSX is a cheater
botao liu on Jun 16, 2009 09:53 AMsince its EPA approval, one month passed, the stock dropped 1% and never rised more than 2%. for a single day.