Boston Scientific Corporation (BSX): A Bull Case Theory 

We came across a bullish thesis on Boston Scientific Corporation on Value investing subreddit by Infinite_Spinach8839. In this article, we will summarize the bulls’ thesis on BSX. Boston Scientific Corporation’s share was trading at $99.02 as of December 2nd. BSX’s trailing and forward P/E were 54.02 and 29.15 respectively according to Yahoo Finance.

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. BSX is positioned for sustained 8-10% annual revenue growth, 100-150 bps of margin expansion, and double-digit EPS CAGR, driven by structural growth across electrophysiology, structural heart, and minimally invasive technologies. The cardiology segment, which represents roughly 60% of total revenue, benefits from a global electrophysiology market growing at ~15% CAGR and an expected doubling of atrial fibrillation procedures by 2030.

Key growth drivers include the pulsed-field ablation platform, Farapulse, which is achieving 50% YoY growth and targeting a 20–30% share of the global PFA market, and the Watchman LAA closure device, with ~25% YoY revenue growth, a total addressable market expanding at 15%+ CAGR, and penetration still below 10% of eligible patients, signaling a long runway.

Boston Scientific’s innovation engine is fueled by 9–10% of revenue allocated to R&D, with new products contributing more than 30% of incremental sales. The company’s pipeline spans cardiology, electrophysiology, neuromodulation, structural heart, urology, and oncology, with near-term launches including Farapulse global rollout, Watchman FLX Pro, and new neuromodulation platforms.

BSX operates with a ~70% gross margin and targets 28–30% operating margins over the coming years, supported by approximately $2.5–3 billion in annual free cash flow, translating to ~80% conversion of net income. This strong cash generation is expected to fund tuck-in M&A ($200M–$2B historically), debt reduction, and selective buybacks. The balance sheet remains healthy with net debt/EBITDA around 2.0x and trending lower, providing ample capacity for strategic acquisitions, making BSX an attractive growth and cash flow story with multiple levers for shareholder value creation.

Previously we covered a bullish thesis on Boston Scientific Corporation (BSX) by Magnus Ofstad in April 2025, which highlighted innovation in minimally invasive devices, disciplined acquisitions, strong margins, and global expansion. The stock has appreciated 5.03% since our coverage, reflecting execution. The thesis still stands as BSX continues growth in cardiology and electrophysiology. Infinite_Spinach8839 shares a similar view but emphasizes revenue growth, margin expansion, and cash flow deployment.

Boston Scientific Corporation is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 100 hedge fund portfolios held BSX at the end of the second quarter which was 108 in the previous quarter. While we acknowledge the risk and potential of BSX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BSX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.