Time To Look At Boston Scientific?

Boston Scientific Corporation

shares are up 3% today, but the real move may come if the Natick-based company gets purchased. At nearly $11 billion, Boston Scientific is not cheap for an acquirer, but the company does have a product, stents, that may be attractive to an acquirer. Recently, Johnson & Johnson

leaving Boston Scientific with a near monopoly in the stent market. Millennium Research Group said that Boston Scientific is likely to benefit from Johnson & Johnson's Cypher stent leaving the market, and could gain as much as two-thirds of the market share from J&J. Stents are used to prop open arteries, and Boston Scientific will benefit from the J&J subsidiary Cordis Corp. leaving the market. Since the beginning of the year, shares of Boston Scientific have fallen nearly 6%, and the company trades at less than 15 times earnings. The company has finally become consistently profitable, having although revenue is not growing as fast as some would look. So who is likely to consider taking a chance on Boston Scientific? Names like Medtronic

, St. Jude

could be potential acquirers, although Boston Scientific is bigger than St. Jude, but much smaller than Medtronic. Another name that could potentially acquire Boston Scientific is Stryker

, which earlier this year purchased Neurovascular assets from Boston Scientific in January 2011 for $1.5 billion. Last night on

Jim Cramer reiterated his negativity on the name, but if the company can capture a healthy portion of the market share from Cordis, in addition to developing and growing its own market share, then perhaps this name could be worthy of adding to your portfolio.