There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Boston Scientific Corp (BSX) and Integra Lifesciences (IART) with bullish sentiments.
Boston Scientific Corp (BSX)
In a report released yesterday, Sean Lavin from BTIG maintained a Buy rating on Boston Scientific Corp, with a price target of $42. The company’s shares closed yesterday at $35.44.
Lavin noted:
“$42 Story BSX results fell short of Street expectations on a myriad of items. Heading into the print, investors anticipated the paclitaxel and mesh issues but less selling days, a temporary supply issue and a weaker Neuromod result pressured Q1 incrementally. As we anticipated in our preview, BSX guided FY19 revenue growth to the bottom half of the prior range (7-8% from 7- 9%). We revised our estimates accordingly for known pressure points and while there could be upside from high-growth segments (Structural Heart remains likely), our view is that NT significant outperformance by BSX is less likely than it was six months ago. On lower forecasts and a slightly lower multiple, we trim our PT from $45 to $42. Some investors have asked if the growth acceleration story is over. We do not think so but we do think there will be a NT slowdown before potential acceleration.”
According to TipRanks.com, Lavin is a 4-star analyst with an average return of 5.5% and a 52.1% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boston Scientific Corp with a $44.40 average price target, which is a 25.3% upside from current levels. In a report issued on April 17, Needham also assigned a Buy rating to the stock with a $43 price target.
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Integra Lifesciences (IART)
BTIG analyst Ryan Zimmerman maintained a Buy rating on Integra Lifesciences yesterday and set a price target of $65. The company’s shares closed yesterday at $51.34.
Zimmerman said:
“with We maintain our Buy rating and $65 PT on IART following 1Q19 results. As previewed, TSA and Day 2 country transitions challenged results (here). Despite this, IART reported overall top-line in-line with the Street while CSS was slightly below and OTT slightly ahead. GMs were robust (~140bps ahead of our est.) driven by a combination of product mix and manufacturing efficiencies. For the year, mgmt. detailed an inflection of organic growth that will occur in 2H19 driven by a combination of new products, Day 2 country transitions, and additional sales reps. Following a quarter that saw these drivers improve results (specifically extremity orthopedics and certain CSS segments) we feel that this inflection is more visible; which should give longs comfort.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 33.8% and a 66.3% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, OrthoPediatrics Corp, and Stryker Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Integra Lifesciences with a $59.86 average price target.
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