Investors are rightfully growing weary of Boston Scientific's ability to cut expenses on flat sales, and they sent the stock down 11% yesterday.
On the revenue side, it was a tale of two distinct classes of medical devices headed in opposite directions. Cardiac rhythm management saw sales increase 10% year over year. However, St. Jude Medical
In the other direction, worldwide sales of drug-eluting stents slipped by more than 12% this quarter as Medtronic
Of course, that's going to change even more, since a fourth player was approved earlier this month. Abbott Labs
The new, leaner Boston Scientific is looking pretty good, but it's going to have to show that it can bulk up revenue a little before investors will have confidence in the stock again.
Fool contributor Brian Orelli, Ph.D., doesn't own shares of any company mentioned in this article. Johnson & Johnson is a Motley Fool Income Investor recommendation. The Fool's disclosure policy bulks up by printing itself in 72-point font.