francisco jose sanchez/iStock via Getty Images Boston Scientific ( BSX ), maker of popular medical devices such as WATCHMAN, has been punished by the market over the last six months, with stock down more than 35%. This is partly due to rerating as growth is slowing from its peak and starting to normalize. As a result, multiples versus growth expectations are being recalibrated. However, the busine...
francisco jose sanchez/iStock via Getty Images Boston Scientific ( BSX ), maker of popular medical devices such as WATCHMAN, has been punished by the market over the last six months, with stock down more than 35%. This is partly due to rerating as growth is slowing from its peak and starting to normalize. As a result, multiples versus growth expectations are being recalibrated. However, the business is still enjoying sustained double-digit growth and operating margins of 28%, and the selloff may be out of proportion compared to the slowdown. The company offers higher-than-peer growth at a fair valuation. With several catalysts in the pipeline, including WATCHMAN CHAMPION, I rate Boston Scientific a Buy. Growth Profile: Deceleration, Not Breakdown Management was justifiably happy with the numbers for FY and Q4 2025. In the words of Michael Mahoney, “We're super pleased with the quarter and the full year.” Full-year revenue came in at $20 billion, with operational revenue growth of 19.2% and organic revenue growth of 15.8%. For Q4, operational revenue was up 14.3%, at the higher end of guidance. With acquisitions contributing 160 basis points, organic revenue growth for the quarter came in at 12.7%. Importantly, revenue growth is substantially above pre-COVID levels, with revenue growth of 9.3% in 2019. Full-year adjusted EPS of $3.06 topped guidance of $3.02 to $3.04, representing a 22% increase, on top of a 100 basis point improvement in adjusted operating margin to 28%. Electrophysiology grew by 35% in Q4, followed by WATCHMAN, which grew by 29% and is seeing increased international adoption. For full-year 2026, the company is guiding towards 10.5-11.5%, which does mark a legitimate slowdown. Full-year adjusted EPS at the midpoint of $3.46 would mark an increase of 13%, indicating a modest margin expansion and generally in line with our thesis of normalization. Valuation Reset Creates Relative Opportunity The 35% drop over the last six months has created a compelli...
London ( UKX ) +1.40% at 10,324. The British pound edged up toward $1.33, moving away from recent four-month lows. Germany ( DAX:IND ) +2.14% to 23,167. Germany's input cost inflation surges to highest since October. France ( CAC:IND ) +0.57% to 7,817. France price and supply-chain pressures intensify in March amid war . Euro Area records modest upticks in both production and new order. In other p...
London ( UKX ) +1.40% at 10,324. The British pound edged up toward $1.33, moving away from recent four-month lows. Germany ( DAX:IND ) +2.14% to 23,167. Germany's input cost inflation surges to highest since October. France ( CAC:IND ) +0.57% to 7,817. France price and supply-chain pressures intensify in March amid war . Euro Area records modest upticks in both production and new order. In other parts of Europe, th e unemployment rate in Italy edged up to 5.3% in February. Austria’s unemployment rate rose to 7.5% in March. Sweden’s Swedbank Manufacturing PMI rose to 56.3 in March. Retail sales in Switzerland rose by 0.9% Y/Y in February. Switzerland’s procure.ch and UBS Manufacturing PMI rose sharply to 53.3 in March. The pan-European Stoxx 600 ( STOXX) traded 1.85% higher to 593.9, following a rally in global markets as risk sentiment improved after U.S. President Donald Trump said military operations in Iran could wrap up within two to three weeks. European natural gas futures dropped more than 5% toward €48 per MWh on Wednesday. The euro strengthened in early April, climbing toward $1.16 and distancing itself from the seven-month lows recorded in mid-March, as the U.S. dollar index fell to 99.5, hitting its lowest level in a week. Coming up in the session: Euro Area unemployment rate expected shortly. In the bond market , the yield on the US 10-year Treasury was down 4 basis points to 4.28%. UK's 10-year yield was down 9 basis points to 4.83%. Germany's 10-year yield was down 5 basis points to 2.96%. Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD ) ETFs: (NYSEARCA: EWG ), (NYSE: GF ), (NYSEARCA: EWI ), (NYSEARCA: EWQ ), (NASDAQ: FGM ), (NASDAQ: DAX ), (NYSEARCA: FLGR ), (NYSEARCA: FXB ), (NYSEARCA: EWU ), (NASDAQ: FKU ), (BATS: EWUS ), (NYSEARCA: FLGB ), (NYSEARCA: GREK ) More on Europe EUR/USD Found Support Above 1.1495, Potential Push Up Towards 'Expanding Wedge' Range Resistance GBP/USD Chart Alert: Bull Flag Pattern In Play Ahead Of Retail Sales Data Logical S...
Microsoft ( MSFT ) is on track to invest $5.5B in cloud and AI infrastructure in Singapore through 2029, The Wall Street Journal reported. The company's Vice Chair and President Brad Smith said the investment will also go toward ongoing operations, the report added . Microsoft did not immediately respond to a request for comment from Seeking Alpha. "Our ongoing investment in cloud and AI infrastr...
Microsoft ( MSFT ) is on track to invest $5.5B in cloud and AI infrastructure in Singapore through 2029, The Wall Street Journal reported. The company's Vice Chair and President Brad Smith said the investment will also go toward ongoing operations, the report added . Microsoft did not immediately respond to a request for comment from Seeking Alpha. "Our ongoing investment in cloud and AI infrastructure reflects Microsoft’s long‑term confidence in Singapore as a global digital leader," said Smith. "We're focused on helping people and organizations use AI by strengthening skills, increasing cybersecurity and resilience, and advancing trusted governance." The U.S. tech giant is also providing tools and training for tertiary students, teachers, and nonprofits. On Monday, Microsoft announced plans to invest more than $1B between 2026 and 2028 in cloud and AI infrastructure and ongoing operations in Thailand. In recent years, Microsoft has committed to spending billions of dollars in the region, including in Indonesia , Malaysia, and India . More on Microsoft Microsoft: Back To Pre-COVID Multiples - But The Business Has Moved On Microsoft: An Inauspicious Start To 2026 Microsoft: A Compelling Risk To Reward Opportunity Microsoft in talks with Chevron, Engine No. 1 about $7B Texas power plant - Bloomberg UK regulator to probe Microsoft's business software ecosystem