After BMO Capital and Guggenheim gave Boston Scientific Corp (NYSE: BSX) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Jason Mills maintained a Buy rating on Boston Scientific Corp today and set a price target of $39. The company’s shares opened today at $34.23.
Mills noted:
“We think today’s announcement, and the pending market re-entry of Lotus, could portend meaningful upside to our, as well as consensus expectations for total revenue and pro forma EPS targets, especially in 2020 and beyond, as we think the opportunity had largely been taken out of forward estimates. We think today’s positive update provides further upside to a Structural Heart portfolio that continues to deliver ahead of expectations, and where we think 2018 guidance still appears conservative. Today’s announcement further augmented our long-term bullish outlook on the prospects for BSX’s Structural Heart portfolio, driven by Watchman, Lotus/Acurate neo in TMVR2 space, in which we expect BSX to become a meaningful player likely via M&A over the next few years.”
According to TipRanks.com, Mills is a top 25 analyst with an average return of 31.7% and a 74.7% success rate. Mills covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Merit Medical Systems.
Boston Scientific Corp has an analyst consensus of Strong Buy, with a price target consensus of $37.75, implying a 10.3% upside from current levels. In a report issued on July 24, Cowen & Co. also reiterated a Buy rating on the stock with a $39 price target.
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The company has a one-year high of $37.30 and a one-year low of $24.54. Currently, Boston Scientific Corp has an average volume of 7.17M.
Based on the recent corporate insider activity of 129 insiders, corporate insider sentiment is negative on the stock.
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Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Cardiovascular, Rhythm Management, and MedSurg.
