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Author: ryanmcraver Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 448  
Subject: finally some respect.... Date: 11/26/2004 11:50 AM
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7:14AM Boston Scientific Anemic For Now -- BWeek (BSX) 33.60: BusinessWeek's Inside Wall St section highlights Boston Scientific when has fallen since its summer recall of 100,000 coronary stents and since its lowered Q4 guidance. But John Maloney of M&R Capital Mgmt, which owns stock, says that BSX -- a maker of surgical devices for cardiology, oncology, and urology -- is too undervalued to ignore. With its leadership in stents (70% of the market vs. 30% for Johnson & Johnson (JNJ)) and its "rich pipeline" of other products, BSX shouldn't be trading so low, he argues. "It is the cheapest in the medical-device group," he says, selling at only 15x 2005 EPS, and 13.6x 2006. His 12-to-18-month target: $50 -- or 20x his 2006 estimate. BSX may lose market share in stents, he says, as competition heats up, but it will remain No. 1. Non-stent products, such as tools for cardiac surgery, will offset any loss.
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