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It took 10 years but Boston Scientific (BSX) may have finally overcome its ill-advised 2006 Guidant acquisition. The company’s shares hit a decade high Wednesday, at one point spiking nearly 12 percent to $22.05 after knocking its first quarter sales out of the park.
Listening to the earnings call, the baseball fan in me couldn’t help but draw comparisons between the company’s better-than-expected earnings and what is already a record-setting season for the Chicago Cubs. Sure, it seemed like a stretch at first, but the more I thought about it the more the analogy made sense. After all, the Cubs have the alleged goat curse and Boston Scientific has Guidant.
But it was the Q&A exchange between J.P. Morgan’s Mike Weinstein and BSX execs that really made me think of the 2016 Cubbies.
Weinstein: So, when’s the last time Boston Scientific grew 8 percent organic? You guys know the answer?
CEO Michael Mahoney: I’ll bet you Dan knows. I don’t.
CFO Dan Brennan: I’d say 10 years, Mike.
Weinstein: 2Q 2005.
Brennan: That’s right.
Mahoney: There you go. Let’s do it again.
I had to laugh at that point because I could picture Cubs manager Joe Maddon standing in a corporate board room saying exactly that to Boston Scientific’s executive team. And then he would throw a company-wide pajama party to celebrate, because that’s how Maddon rolls.
But seriously, Boston Scientific’s first quarter is worthy of flying the W flag (the victory flag flown at Wrigley Field after every Chicago Cubs home win). And given the lineup of recently-approved products, this could be a real turning point for the company. Funny, the same could be said of this year’s baseball season as the Cubs just celebrated its best 20-game start since 1907.
(Note to Editor: Please forgive my excessive Cubs references. This post may be the last time I find an excuse to write about baseball for Medical Device Daily Perspectives, I had to make it count.)
Image may be NSFW.
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Image may be NSFW.
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Image may be NSFW.
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