Pj568

Boston Scientific: Good Valuation, But Technically Shaky

I suspect that there are few, if any, bigger fools in todays market. BSX paid 14B for each 1B in annual sales realized post acquisition (7 cents of sales for each dollar spent). Hard to believe they can still justify a carry value of 24B. Don't know when or how much, but I expect a substantial write down that could eliminate book equity. Per the 10-K, impairment testing takes place during the 2nd quarter. Even if no write down is announced next week, I can't imagine a true value anywhere close to the book value.