According to Deutsche Bank, Boston Scientific BSX is facing another Guidant CRM impairment charge.
Deutsche Bank said that recovery is still some way off. “Boston Scientific closed the Guidant acquisition exactly 5 years ago today for an aggregate purchase price of $28.4B, selling the vascular business to Abbott for an initial payment of $4.1B in cash. BSX recorded another goodwill impairment charge in its 1Q11 results, a reminder that the future for BSX continues to be challenging. While we believe management has the right strategy, we think a recovery is still a ways off and better investment options exist in the space in the meantime. We rate BSX Hold.”
Boston Scientific closed yesterday at $7.08.
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Posted In: Analyst ColorAnalyst Ratingsboston scientificDeutsche BankHealth CareHealth Care Equipment
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