On Oct 24, major Wall Street analysts update their ratings for $Boston Scientific (BSX.US)$, with price targets ranging from $97 to $100.
Morgan Stanley analyst Patrick Wood maintains with a buy rating, and adjusts the target price from $92 to $100.
BofA Securities analyst Travis Steed maintains with a buy rating, and maintains the target price at $100.
Citi analyst Joanne Wuensch maintains with a buy rating.
Wells Fargo analyst Larry Biegelsen maintains with a buy rating, and adjusts the target price from $87 to $98.
Jefferies analyst Matthew Taylor maintains with a buy rating, and adjusts the target price from $90 to $100.
Furthermore, according to the comprehensive report, the opinions of $Boston Scientific (BSX.US)$'s main analysts recently are as follows:
Boston Scientific has delivered a quarter that exceeded expectations on all fronts, despite already high anticipations. The pause in the AVANT GUARD clinical trial studying Farapulse in persistent drug-naive patients has placed some pressure on the company's shares. It is important to note that the current pause pertains to a patient segment not currently under treatment, and there are aspects that require evaluation. The expectation is for enrollment to recommence shortly.
Boston Scientific is perceived as having 'best in medtech growth,' with increased confidence in the company's growth projection and the sustainability of its double-digit revenue expansion. It is noted that Boston Scientific possesses one of the most comprehensive pipelines in the medtech sector and that much of its revenue growth contributes positively to profit margins.
The recent pullback in Boston Scientific shares is seen as offering a 'compelling' entry point. This assessment comes despite the AVANT Guard trial setback, which is noteworthy for not being associated with a mortality event or instigated by the FDA. Furthermore, the sustained global momentum of Farapulse is anticipated to continue over the medium term.
Boston Scientific's third-quarter revenue and EPS surpassed expectations, with U.S. Farapulse sales notably doubling over the previous quarter, a performance that outpaced predictions. The company also increased its revenue and EPS guidance for 2024 and offered preliminary insights into its 2025 projections.
Expectations were notably high for Boston Scientific leading into the Q3 results, which ultimately met the anticipation. Despite the positive outcome, there was unexpected commentary about a temporary halt in the AVANT GUARD trial, which is investigating pulsed field ablation as a primary treatment for persistent atrial fibrillation. While the pause is due to some unanticipated observations that are not life-threatening, it has caused the shares to trade down even after a commendable report. It is believed that the market reaction is somewhat myopic, given that the enrollment is anticipated to continue shortly. Nonetheless, there is an understanding of the concerns regarding any issues with a crucial product that has the potential to expand the total addressable market.
Here are the latest investment ratings and price targets for $Boston Scientific (BSX.US)$ from 12 analysts:
Note:
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