BofA Securities analyst Travis Steed maintains $Boston Scientific (BSX.US)$ with a buy rating.
According to TipRanks data, the analyst has a success rate of 64.1% and a total average return of 8.2% 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 has delivered a quarter that exceeded expectations from all angles, despite the high anticipations. Nonetheless, the shares are currently under pressure due to the announced suspension of the AVANT GUARD clinical trial, which is investigating Farapulse in a new patient segment. It's essential to note that this patient segment is not currently being treated, there are certain observations under assessment, and the expectation is for enrollment to continue shortly.
Boston Scientific's Q3 outcomes were described as 'impressive', and the company's management has elevated its 2024 guidance, with expectations to conclude the year with +15% organic sales growth. Despite a temporary halt in the EP trial AVANTGUARD, which influenced the stock negatively, the reaction is perceived to be exaggerated according to key opinion leader assessments.
The AVANT Guard trial setback is not associated with a mortality event or initiated by the FDA, and the momentum of global Farapulse is viewed as sustainable over the medium term. It is believed that the current pullback in Boston Scientific shares offers a compelling entry point.
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.
