Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of medical devices specialist Boston Scientific (NYSE: BSX) rose as much as 11% in intraday trading after the company posted better-than-expected quarterly results.

So What: Boston Scientific's $190 million profit for the quarter, or $0.12 a share, easily topped the average analyst estimate of $0.06. And although there's still no revenue growth, the 5% slump for the quarter was also less severe than Wall Street had expected.

Now What: While these quarterly results show that Boston Scientific's top line isn't declining as rapidly as everyone thinks, it's still declining nonetheless. So for those Boston Scientific bulls lucky enough to have profited from today's pop, it might be prudent to roll over that medical devices bet elsewhere. For my money, high-margin, dividend-paying powerhouses like Medtronic (NYSE: MDT), Abbott Labs (NYSE: ABT), and Johnson & Johnson (NYSE: JNJ) still offer the best long-term odds in the space.

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Fool contributor Brian Pacampara doesn't own a position in any of the companies mentioned. Johnson & Johnson is a Motley Fool Income Investor pick, and Motley Fool Options has recommended a diagonal call position on it. The Fool owns shares of Johnson & Johnson and Medtronic. Try any of our Foolish newsletter services free for 30 days.

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