•Medical device manufacturer Boston Scientific Corp. (BSX) reported solid earnings for the first quarter but investors focused on near-term headwinds in the cardiac-rhythm management business. The company also announced a delay in potential approval for its Watchman’s heart device. Given the breadth of the company’s pipeline, potential for margin upside, and attractive valuation, we continue to like the outlook for the shares going forward.
From Diamond Hill Capital (Trades, Portfolio)'s Select Fund Second Quarter 2014 Commentary.
