Medical device manufacturer Boston Scientific Corp. (NYSE: BSX) is seemingly off to a tough start to the year, as shares have plunged by 26% year-to-date (YTD) and by almost a third in the last year. But investors looking more closely at the healthcare company's fundamentals may find that it has actually posted some notably strong results recently, including adjusted earnings per share (EPS) of 80 cents for the last quarter, which was 2 cents above consensus estimates.
Indeed, a detailed look at Boston Scientific's earnings suggests that the company is doing quite well—its electrophysiology (EP) segment, and Watchman products in particular, have grown rapidly and seem on track to continue delivering going forward. What's more, the company is expected to release results from its Champion-AF trial by the end of March, which could have a major impact on the product's addressable client base. Investors may therefore be tempted to buy the dip in BSX stock, though it's also important to keep in mind why shares have fallen and what other risks may remain.
