Boston Scientific is one of the leading medical device companies in the world. While much of the focus over the last 12 months was on the healthcare sector, medical device companies actually had a challenging time. Because of the fear of contracting COVID, many patients deferred surgical procedures that were not urgent. So, the demand for medical devices related to such elective procedures took a hit. Sales numbers for many medical device companies dropped. However, with the vaccination levels now crossing 85% and the pandemic numbers going down in the US, the prospects of patients returning for their surgeries are looking up. The top medical device companies like Boston Scientific could benefit as a result. Investors looking for medical stocks long-term will want to explore the medical device space further to find opportunities.
Information About The Business Of Boston Scientific
Boston Scientific has a reputation for bringing important medical device innovations to the market. It has focused on developing devices that reduce or eliminate the need for major surgery. The company’s steerable catheters are one example. Boston Scientific has grown over a few decades to become a diversified global business. Today, it has seven core businesses that cover cardiology, endoscopy, urology, peripheral interventions, electrophysiology, and neuromodulation. Interventional cardiology, cardiac rhythm management, and endoscopy account for more than 60% of the company’s sales. Geographically, about 60% of the total sales are from the US. Europe, Middle East & Africa account for 20%, Asia-Pacific contributes 17%, and Latin America & Canada account for 3%. If we talk about investing in long-term medical stocks, then large and diversified businesses like Boston Scientific come to mind.
Boston Scientific’s stock crossed the highs of $43 back in April 2004. Since then, it went through a long-term downtrend and found a bottom at less than $5 in 2012. Since then, the stock has been through a long uptrend, and prices peaked at $45 in June 2021.