Intrinsic value of Boston Scientific - BSX

Previous Close

$33.70

  Intrinsic Value

$6.90

stock screener

  Rating & Target

str. sell

-80%

Previous close

$33.70

 
Intrinsic value

$6.90

 
Up/down potential

-80%

 
Rating

str. sell

We calculate the intrinsic value of BSX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 46.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.90
  7.61
  7.35
  7.11
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
Revenue, $m
  9,763
  10,506
  11,278
  12,080
  12,914
  13,781
  14,682
  15,620
  16,596
  17,612
  18,671
  19,774
  20,925
  22,126
  23,379
  24,687
  26,054
  27,483
  28,977
  30,539
  32,174
  33,884
  35,675
  37,551
  39,515
  41,573
  43,730
  45,990
  48,359
  50,844
Variable operating expenses, $m
  9,144
  9,742
  10,364
  11,010
  11,681
  12,379
  13,105
  13,860
  14,646
  15,464
  15,033
  15,921
  16,848
  17,814
  18,823
  19,877
  20,977
  22,128
  23,330
  24,588
  25,905
  27,282
  28,724
  30,234
  31,816
  33,473
  35,209
  37,029
  38,936
  40,936
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  9,144
  9,742
  10,364
  11,010
  11,681
  12,379
  13,105
  13,860
  14,646
  15,464
  15,033
  15,921
  16,848
  17,814
  18,823
  19,877
  20,977
  22,128
  23,330
  24,588
  25,905
  27,282
  28,724
  30,234
  31,816
  33,473
  35,209
  37,029
  38,936
  40,936
Operating income, $m
  619
  764
  914
  1,070
  1,233
  1,402
  1,577
  1,760
  1,950
  2,148
  3,638
  3,853
  4,077
  4,311
  4,555
  4,810
  5,077
  5,355
  5,646
  5,951
  6,269
  6,603
  6,952
  7,317
  7,700
  8,101
  8,521
  8,961
  9,423
  9,907
EBITDA, $m
  3,452
  3,714
  3,987
  4,271
  4,566
  4,872
  5,191
  5,523
  5,868
  6,227
  6,601
  6,991
  7,398
  7,823
  8,266
  8,728
  9,212
  9,717
  10,245
  10,797
  11,375
  11,980
  12,613
  13,276
  13,971
  14,698
  15,461
  16,260
  17,098
  17,976
Interest expense (income), $m
  233
  303
  355
  408
  464
  522
  581
  644
  709
  776
  846
  919
  995
  1,074
  1,157
  1,243
  1,333
  1,427
  1,526
  1,628
  1,736
  1,848
  1,965
  2,088
  2,217
  2,352
  2,493
  2,641
  2,796
  2,958
  3,128
Earnings before tax, $m
  316
  409
  506
  606
  711
  820
  934
  1,052
  1,174
  1,302
  2,719
  2,858
  3,003
  3,154
  3,312
  3,477
  3,649
  3,830
  4,018
  4,215
  4,421
  4,637
  4,863
  5,100
  5,348
  5,608
  5,880
  6,166
  6,465
  6,779
Tax expense, $m
  85
  110
  137
  164
  192
  221
  252
  284
  317
  352
  734
  772
  811
  852
  894
  939
  985
  1,034
  1,085
  1,138
  1,194
  1,252
  1,313
  1,377
  1,444
  1,514
  1,588
  1,665
  1,746
  1,830
Net income, $m
  230
  298
  369
  443
  519
  599
  682
  768
  857
  951
  1,985
  2,086
  2,192
  2,303
  2,418
  2,538
  2,664
  2,796
  2,933
  3,077
  3,228
  3,385
  3,550
  3,723
  3,904
  4,094
  4,293
  4,501
  4,720
  4,949

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  20,553
  22,117
  23,743
  25,432
  27,187
  29,012
  30,910
  32,884
  34,939
  37,078
  39,307
  41,630
  44,053
  46,580
  49,218
  51,973
  54,851
  57,859
  61,004
  64,293
  67,734
  71,336
  75,106
  79,055
  83,190
  87,523
  92,063
  96,821
  101,809
  107,039
Adjusted assets (=assets-cash), $m
  20,553
  22,117
  23,743
  25,432
  27,187
  29,012
  30,910
  32,884
  34,939
  37,078
  39,307
  41,630
  44,053
  46,580
  49,218
  51,973
  54,851
  57,859
  61,004
  64,293
  67,734
  71,336
  75,106
  79,055
  83,190
  87,523
  92,063
  96,821
  101,809
  107,039
Revenue / Adjusted assets
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
  0.475
Average production assets, $m
  15,494
  16,673
  17,898
  19,171
  20,494
  21,870
  23,301
  24,789
  26,338
  27,951
  29,631
  31,382
  33,208
  35,113
  37,102
  39,179
  41,348
  43,615
  45,986
  48,466
  51,060
  53,775
  56,617
  59,593
  62,711
  65,977
  69,399
  72,986
  76,747
  80,689
Working capital, $m
  596
  641
  688
  737
  788
  841
  896
  953
  1,012
  1,074
  1,139
  1,206
  1,276
  1,350
  1,426
  1,506
  1,589
  1,676
  1,768
  1,863
  1,963
  2,067
  2,176
  2,291
  2,410
  2,536
  2,668
  2,805
  2,950
  3,101
Total debt, $m
  6,576
  7,564
  8,591
  9,659
  10,768
  11,922
  13,121
  14,369
  15,667
  17,020
  18,428
  19,896
  21,427
  23,025
  24,692
  26,433
  28,252
  30,153
  32,140
  34,219
  36,394
  38,670
  41,053
  43,549
  46,162
  48,900
  51,770
  54,777
  57,930
  61,235
Total liabilities, $m
  12,990
  13,978
  15,005
  16,073
  17,182
  18,336
  19,535
  20,783
  22,081
  23,434
  24,842
  26,310
  27,841
  29,439
  31,106
  32,847
  34,666
  36,567
  38,554
  40,633
  42,808
  45,084
  47,467
  49,963
  52,576
  55,314
  58,184
  61,191
  64,344
  67,649
Total equity, $m
  7,564
  8,139
  8,737
  9,359
  10,005
  10,677
  11,375
  12,101
  12,858
  13,645
  14,465
  15,320
  16,211
  17,142
  18,112
  19,126
  20,185
  21,292
  22,449
  23,660
  24,926
  26,252
  27,639
  29,092
  30,614
  32,208
  33,879
  35,630
  37,466
  39,390
Total liabilities and equity, $m
  20,554
  22,117
  23,742
  25,432
  27,187
  29,013
  30,910
  32,884
  34,939
  37,079
  39,307
  41,630
  44,052
  46,581
  49,218
  51,973
  54,851
  57,859
  61,003
  64,293
  67,734
  71,336
  75,106
  79,055
  83,190
  87,522
  92,063
  96,821
  101,810
  107,039
Debt-to-equity ratio
  0.870
  0.930
  0.980
  1.030
  1.080
  1.120
  1.150
  1.190
  1.220
  1.250
  1.270
  1.300
  1.320
  1.340
  1.360
  1.380
  1.400
  1.420
  1.430
  1.450
  1.460
  1.470
  1.490
  1.500
  1.510
  1.520
  1.530
  1.540
  1.550
  1.550
Adjusted equity ratio
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368
  0.368

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  230
  298
  369
  443
  519
  599
  682
  768
  857
  951
  1,985
  2,086
  2,192
  2,303
  2,418
  2,538
  2,664
  2,796
  2,933
  3,077
  3,228
  3,385
  3,550
  3,723
  3,904
  4,094
  4,293
  4,501
  4,720
  4,949
Depreciation, amort., depletion, $m
  2,833
  2,951
  3,073
  3,201
  3,333
  3,471
  3,614
  3,762
  3,917
  4,079
  2,963
  3,138
  3,321
  3,511
  3,710
  3,918
  4,135
  4,362
  4,599
  4,847
  5,106
  5,377
  5,662
  5,959
  6,271
  6,598
  6,940
  7,299
  7,675
  8,069
Funds from operations, $m
  3,063
  3,249
  3,442
  3,643
  3,852
  4,069
  4,295
  4,530
  4,775
  5,029
  4,948
  5,225
  5,513
  5,814
  6,128
  6,456
  6,799
  7,157
  7,532
  7,924
  8,334
  8,763
  9,212
  9,682
  10,175
  10,692
  11,233
  11,800
  12,394
  13,017
Change in working capital, $m
  44
  45
  47
  49
  51
  53
  55
  57
  60
  62
  65
  67
  70
  73
  76
  80
  83
  87
  91
  95
  100
  104
  109
  114
  120
  126
  132
  138
  145
  152
Cash from operations, $m
  3,020
  3,204
  3,395
  3,594
  3,801
  4,016
  4,240
  4,473
  4,715
  4,967
  4,883
  5,157
  5,443
  5,741
  6,052
  6,376
  6,715
  7,070
  7,441
  7,828
  8,234
  8,658
  9,103
  9,568
  10,055
  10,566
  11,101
  11,662
  12,250
  12,866
Maintenance CAPEX, $m
  -1,436
  -1,549
  -1,667
  -1,790
  -1,917
  -2,049
  -2,187
  -2,330
  -2,479
  -2,634
  -2,795
  -2,963
  -3,138
  -3,321
  -3,511
  -3,710
  -3,918
  -4,135
  -4,362
  -4,599
  -4,847
  -5,106
  -5,377
  -5,662
  -5,959
  -6,271
  -6,598
  -6,940
  -7,299
  -7,675
New CAPEX, $m
  -1,132
  -1,179
  -1,225
  -1,273
  -1,323
  -1,376
  -1,431
  -1,488
  -1,549
  -1,613
  -1,680
  -1,751
  -1,826
  -1,905
  -1,989
  -2,077
  -2,169
  -2,267
  -2,371
  -2,479
  -2,594
  -2,715
  -2,842
  -2,976
  -3,118
  -3,266
  -3,422
  -3,587
  -3,760
  -3,942
Cash from investing activities, $m
  -2,568
  -2,728
  -2,892
  -3,063
  -3,240
  -3,425
  -3,618
  -3,818
  -4,028
  -4,247
  -4,475
  -4,714
  -4,964
  -5,226
  -5,500
  -5,787
  -6,087
  -6,402
  -6,733
  -7,078
  -7,441
  -7,821
  -8,219
  -8,638
  -9,077
  -9,537
  -10,020
  -10,527
  -11,059
  -11,617
Free cash flow, $m
  451
  475
  503
  531
  561
  591
  623
  655
  687
  721
  408
  443
  478
  515
  552
  589
  628
  668
  708
  750
  793
  837
  883
  930
  979
  1,029
  1,081
  1,135
  1,191
  1,249
Issuance/(repayment) of debt, $m
  960
  989
  1,027
  1,068
  1,109
  1,153
  1,199
  1,248
  1,299
  1,352
  1,409
  1,468
  1,531
  1,597
  1,667
  1,741
  1,819
  1,901
  1,988
  2,079
  2,175
  2,276
  2,383
  2,495
  2,614
  2,738
  2,869
  3,007
  3,152
  3,305
Issuance/(repurchase) of shares, $m
  321
  277
  229
  179
  127
  73
  17
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,281
  1,266
  1,256
  1,247
  1,236
  1,226
  1,216
  1,248
  1,299
  1,352
  1,409
  1,468
  1,531
  1,597
  1,667
  1,741
  1,819
  1,901
  1,988
  2,079
  2,175
  2,276
  2,383
  2,495
  2,614
  2,738
  2,869
  3,007
  3,152
  3,305
Total cash flow (excl. dividends), $m
  1,732
  1,741
  1,759
  1,778
  1,797
  1,817
  1,839
  1,902
  1,986
  2,073
  1,817
  1,911
  2,009
  2,112
  2,219
  2,330
  2,447
  2,569
  2,696
  2,829
  2,968
  3,114
  3,266
  3,425
  3,592
  3,767
  3,950
  4,142
  4,343
  4,554
Retained Cash Flow (-), $m
  -552
  -576
  -598
  -622
  -646
  -672
  -698
  -727
  -756
  -787
  -820
  -855
  -891
  -930
  -971
  -1,014
  -1,059
  -1,107
  -1,157
  -1,210
  -1,266
  -1,325
  -1,388
  -1,453
  -1,522
  -1,594
  -1,671
  -1,751
  -1,836
  -1,924
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  127
  137
  147
  158
  169
  181
  193
  206
  219
  232
  247
  261
  277
  293
  310
  327
  346
  365
  385
  406
  428
  450
  474
  499
  526
  553
  582
  612
  644
  677
Cash available for distribution, $m
  1,181
  1,166
  1,161
  1,156
  1,151
  1,146
  1,140
  1,176
  1,230
  1,285
  997
  1,056
  1,118
  1,182
  1,248
  1,317
  1,388
  1,462
  1,539
  1,619
  1,702
  1,788
  1,878
  1,972
  2,070
  2,173
  2,279
  2,391
  2,508
  2,630
Discount rate, %
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.12
  16.93
  17.78
  18.67
  19.60
  20.58
  21.61
  22.69
  23.82
  25.01
  26.26
  27.58
PV of cash for distribution, $m
  1,107
  1,017
  937
  857
  778
  700
  625
  572
  526
  478
  319
  287
  255
  223
  193
  163
  136
  112
  90
  71
  55
  41
  31
  22
  16
  11
  7
  5
  3
  2
Current shareholders' claim on cash, %
  99.3
  98.8
  98.3
  98.0
  97.8
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7
  97.7

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology. It operates in three segments: Cardiovascular, Rhythm Management and MedSurg. Its Cardiovascular segment consists of Interventional Cardiology and Peripheral Interventions businesses. Rhythm Management consists of Cardiac Rhythm Management and Electrophysiology businesses. MedSurg consists of Endoscopy, Urology and Pelvic Health, and Neuromodulation businesses. Its Interventional Cardiology product offerings include balloon catheters, rotational atherectomy systems, guide wires, guide catheters and embolic protection devices and diagnostic catheters used in percutaneous transluminal coronary angioplasty (PTCA) procedures.

FINANCIAL RATIOS  of  Boston Scientific (BSX)

Valuation Ratios
P/E Ratio 132.3
Price to Sales 5.5
Price to Book 6.8
Price to Tangible Book
Price to Cash Flow 47.2
Price to Free Cash Flow 98.9
Growth Rates
Sales Growth Rate 12.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1%
Cap. Spend. - 3 Yr. Gr. Rate 11.9%
Financial Strength
Quick Ratio 3
Current Ratio 0.1
LT Debt to Equity 80.5%
Total Debt to Equity 81.4%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.4%
Ret/ On Assets - 3 Yr. Avg. 1.1%
Return On Total Capital 2.9%
Ret/ On T. Cap. - 3 Yr. Avg. -0.1%
Return On Equity 5.3%
Return On Equity - 3 Yr. Avg. -0.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 71.5%
Gross Margin - 3 Yr. Avg. 71.1%
EBITDA Margin 14.6%
EBITDA Margin - 3 Yr. Avg. 8.6%
Operating Margin 5.3%
Oper. Margin - 3 Yr. Avg. -1%
Pre-Tax Margin 2.1%
Pre-Tax Margin - 3 Yr. Avg. -4.5%
Net Profit Margin 4.1%
Net Profit Margin - 3 Yr. Avg. -0.2%
Effective Tax Rate -96%
Eff/ Tax Rate - 3 Yr. Avg. 14.6%
Payout Ratio 0%

BSX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BSX stock intrinsic value calculation we used $9048 million for the last fiscal year's total revenue generated by Boston Scientific. The default revenue input number comes from 2017 income statement of Boston Scientific. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BSX stock valuation model: a) initial revenue growth rate of 7.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.7%, whose default value for BSX is calculated based on our internal credit rating of Boston Scientific, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Boston Scientific.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BSX stock the variable cost ratio is equal to 94.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BSX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Boston Scientific.

Corporate tax rate of 27% is the nominal tax rate for Boston Scientific. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BSX stock is equal to 1.4%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BSX are equal to 158.7%.

Life of production assets of 10 years is the average useful life of capital assets used in Boston Scientific operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BSX is equal to 6.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $7012 million for Boston Scientific - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 1370 million for Boston Scientific is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Boston Scientific at the current share price and the inputted number of shares is $46.2 billion.

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COMPANY NEWS

▶ Boston Scientific to buy Fremont medical device company for $160 million   [Aug-09-18 10:05AM  American City Business Journals]
▶ Boston Scientific to cut 85 jobs at Burlington site   [Aug-06-18 05:15AM  American City Business Journals]
▶ Gener8tor announces newest startups in its gBETA med-tech accelerator   [Jul-26-18 01:00PM  American City Business Journals]
▶ Boston Scientific: 2Q Earnings Snapshot   [06:43AM  Associated Press]
▶ [$$] Boston Scientific to Acquire Claret Medical for $220 Million   [Jul-20-18 11:14AM  The Wall Street Journal]
▶ Boston Scientific buys California stroke prevention startup for $220M   [10:45AM  American City Business Journals]
▶ Mass. firms ban once-common question: How much do you make?   [Jul-16-18 02:48PM  American City Business Journals]
▶ Mass. M&A fell by 20% last quarter, but uptick may be on way   [Jul-11-18 05:00AM  American City Business Journals]
▶ [$$] Boston Scientific to Buy Rest of Cryterion Medical   [01:14PM  The Wall Street Journal]
▶ Boston Scientific to buy California heart device startup   [10:39AM  American City Business Journals]
▶ Boston Scientific Listed Among Top Stocks As Growth 'Quite Feasible'   [Jul-03-18 03:03PM  Investor's Business Daily]
▶ 10 Best Blue-Chip Stocks to Buy in July   [02:25PM  InvestorPlace]
▶ 5 ROE Stocks to Buy as Proposed Auto Tariffs Rattle Markets   [Jul-02-18 10:33AM  InvestorPlace]
▶ 7 GARP Stocks to Scoop Up for Maximum Returns   [Jun-28-18 09:50AM  Zacks]
▶ Should You Buy Boston Scientific Corporation (NYSE:BSX) Now?   [Jun-22-18 10:18AM  Simply Wall St.]
▶ America's Most Beloved CEOs Ranked   [05:44AM  Investopedia]
▶ Boston Scientific, Masco, MasterCard, Allergan & Paypal   [Jun-20-18 01:36PM  CNBC Videos]
▶ Only four D.C.-area CEOs make Glassdoor's top 100 list for 2018   [Jun-19-18 11:59PM  American City Business Journals]
▶ [$$] Stryker Says Its Not in Deal Talks With Boston Scientific   [Jun-13-18 08:18PM  The Wall Street Journal]
▶ Stryker Says It's Not Planning To Acquire Boston Scientific   [04:26PM  Investor's Business Daily]
▶ Four Big Movers in the Blitz   [01:11PM  CNBC Videos]
▶ Stryker denies report its in talks to acquire Boston Scientific   [10:24AM  American City Business Journals]
▶ Why Dow's J&J May Try To Sweep Boston Scientific From Stryker   [Jun-12-18 04:18PM  Investor's Business Daily]
▶ Does the World Need Another Megadeal?   [02:05PM  Bloomberg]
▶ Company News For Jun 12, 2018   [09:56AM  Zacks]
▶ [$$] Stryker Makes Takeover Approach to Boston Scientific   [Jun-11-18 10:18PM  The Wall Street Journal]
▶ [$$] Stryker Offer May Trigger Billions in Deal Making   [07:59PM  The Wall Street Journal]
▶ What Happened in the Stock Market Today   [04:53PM  Motley Fool]
▶ [$$] Stryker Offer May Trigger Billions in Deal Making   [03:55PM  The Wall Street Journal]
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