Jefferies analyst Matthew Taylor maintains $Boston Scientific (BSX.US)$ with a buy rating, and adjusts the target price from $90 to $100.
According to TipRanks data, the analyst has a success rate of 58.7% and a total average return of 9.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Boston Scientific (BSX.US)$'s main analysts recently are as follows:
Boston Scientific's recent quarterly results exceeded expectations on all fronts, despite already high anticipations. The company's stock, however, is experiencing pressure due to the temporary halt of the AVANT GUARD clinical trial, which is investigating Farapulse in a new patient segment not currently being treated. It's noteworthy that this pause is for evaluative purposes, and the trial's enrollment is anticipated to recommence shortly.
Boston Scientific is recognized for possessing one of the most comprehensive pipelines in the medtech sector, with a significant portion of its revenue growth contributing positively to margins. The increased confidence in the company's growth prospects and the sustainability of its double-digit revenue expansion justify a heightened valuation multiple.
The AVANT Guard trial setback is not associated with a mortality event or initiated by the FDA, and there is an expectation that the global Farapulse momentum will continue over the medium-term. It's suggested that the pullback in Boston Scientific shares offers an attractive entry point for investors.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
