Was watching this one closely this morning as the stock had dropped significantly recently and was trading at a multi year low.
BSX Beat Q2 expectations (Rev $5.44B vs $5.39B, EPS $0.86 vs $0.83).
Personally, I've been getting more into what I view as undervalued MedTech (recently posted on ISRG which hit lows around 330) and this feels like another dominant company in medical devices that should rebound nicely, even if competition gains ground in specific segments, I like the long term tailwinds in this sector.
Does anyone think competitive pressure in MedTech is in their "to hard" bucket of stocks to pick or are these solid buys?
In my opinion MedTech and Software have been two of the best sectors to buy recently and both sectors have already recently started turning the corner. Will these two sectors continue to rebound or is this a small bounce before they continue falling due to new tech/competition?
Disclosure: I recently bought BSX, currently hold a long position.