This is a Scorecard review, revisiting a past LF0 research call against what actually happened.
Ticker: BSX Rating: Buy Published: 2026-06-14 Checkpoint: 2026-09-14 Entry price: $46.76 Latest price: $44.25 as of 2026-09-14 Stock return since entry: -5.4% Signal return: -5.4% Verdict: Incorrect so far
This is the 3-month checkpoint for this call. LF0 publishes monthly Scorecard updates through month 6, using the closest available daily close on or before the checkpoint date.
Read the original LF0 analysis
What I Said
I argued that BSX was still a constructive Buy because the business was showing solid top-line growth, expanding profitability, and strong free cash flow. I also said the valuation looked reasonable as long as management could keep margins moving up while handling reimbursement pressure and integrating acquisitions.
Peer Comparison
| Company | Return Since Entry |
|---|---|
| BSX (this call) | -5.4% |
| ABT | +16.9% |
| EW | -0.6% |
| MDT | +17.6% |
| SYK | -8.0% |
| ZBH | +9.8% |
Why It’s Working (Or Not)
So far, following my Buy would have lost about 5.4%, so the call has not worked yet. The peer group has been mixed but generally firmer than BSX, with several comparables up meaningfully over the same stretch, which makes BSX’s relative weakness harder to excuse. The specific operating case I leaned on — 11.6% revenue growth, 32.3% EBITDA growth, 99.0% net income growth, and $2,807.1M of TTM free cash flow — has not translated into stock support over this window. That means my view that the valuation was defensible if execution held up has not been validated by the market so far.
What Could Still Prove Me Wrong
If BSX can show that reimbursement pressure is still contained and that acquisition integration is not hurting margins, I could still be right on the longer thesis. What would prove me wrong is a continued inability to convert that growth profile into sustained price support, especially if margin expansion stalls or free cash flow weakens from the $2,807.1M TTM level. A further deterioration in relative performance versus the peer set would also reinforce that the original setup was too optimistic.
The June 2026 Cohort
Other directional calls published the same month:
| Ticker | Rating | Entry | Latest | Stock Return | Signal Return | Verdict |
|---|---|---|---|---|---|---|
| SKYH | Sell | $9.37 | $10.08 | +7.6% | -7.6% | Incorrect so far |
| SOUN | Sell | $7.33 | $6.35 | -13.4% | +13.4% | Correct so far |
| AEHR | Sell | $115.30 | $86.18 | -25.3% | +25.3% | Correct so far |
| CAR | Sell | $186.28 | $119.64 | -35.8% | +35.8% | Correct so far |
| BW | Sell | $17.76 | $7.20 | -59.4% | +59.4% | Correct so far |
Live LF0 scorecard: The Scorecard | Research Performance dashboard
Past performance does not guarantee future results. Nothing here is investment advice or a recommendation to buy or sell securities. Returns use LF0’s daily-close scorecard methodology.
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