Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Boston Scientific Corp (BSX) and BioMarin (BMRN).
Boston Scientific Corp (BSX)
Needham analyst Michael Matson reiterated a Buy rating on Boston Scientific Corp today and set a price target of $43. The company’s shares opened today at $34.90.
Matson wrote:
“This morning, BSX preannounced 4Q18 revenue that was in line with consensus though we note that the currency headwind was 40 bps higher than what we had modeled. BSX’s underlying revenue growth slowed to 7.0% in 4Q18 from 8.7% in 3Q18 given a more difficult comp. While BSX faces tougher comps starting in 2Q19, we believe a strong product portfolio (particularly BSX’s structural heart products) should enable BSX to sustain upper-single digit revenue growth and double- digit EPS growth in 2019 and we reiterate our Strong Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.9% and a 54.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Cardiovascular Systems, Zimmer Biomet Holdings, and Merit Medical Systems.
Currently, the analyst consensus on Boston Scientific Corp is a Strong Buy with an average price target of $42.41, representing a 21.5% upside. In a report issued on December 28, Raymond James also reiterated a Buy rating on the stock with a $42 price target.
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BioMarin (BMRN)
In a report released today, Leland Gershell from Oppenheimer maintained a Hold rating on BioMarin, with a price target of $92. The company’s shares opened today at $90.95.
Gershell commented:
“We are revising our BMRN model to reflect updated company guidance for 2018. Our updated 2018 revenue and EPS estimates are $1.53B and ($0.63) vs. prior $1.54B and ($0.46), respectively, primarily because we decreased assumed Palynziq sales est. by ~$4M and increased expected overall COGS est. by ~$11M. Our 2019 estimates are updated to reflect flow-through from 2018.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -8.4% and a 41.4% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.
BioMarin has an analyst consensus of Moderate Buy, with a price target consensus of $124.50, representing a 36.9% upside. In a report issued on January 2, Raymond James also downgraded the stock to Hold.
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