Boston Scientific Earnings: Underlying Strength Across Products Fuels Double-Digit Sales Growth

Boston Scientific posted another quarter of robust results. As the firm is on track to meet our full-year expectations, we’re leaving our $55 fair value estimate unchanged. Boston saw quarterly revenue growth of 11% in constant currency year over year, driven by double-digit growth from virtually all product categories. Though management narrowed its outlook, our 2023 estimates remain bounded by the new parameters. Boston’s atrial fibrillation ablation and spinal cord stimulation pipeline technologies leave us confident that the firm can maintain its narrow economic moat with such innovation support.