In a report released today, Michael Matson from Needham reiterated a Buy rating on Boston Scientific Corp (NYSE: BSX), with a price target of $43. The company’s shares closed yesterday at $38.40, close to its 52-week high of $38.49.
Matson said:
“BSX expects to launch the U.S. and 1Q19, respectively. We believe that BSX is well-positioned to take TAVR share despite its later entry given its clinical data and product breadth (two TAVR systems and an embolic protection system). In particular, we expect BSX to take TAVR share from MDT . We estimate that if Lotus Edge valve captures 15% of the TAVR market, it would be worth ~$5 per share in 2019 and we reiterate our Strong Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 14.4% and a 66.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Cardiovascular Systems, Zimmer Biomet Holdings, and Merit Medical Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boston Scientific Corp with a $39.80 average price target.
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The company has a one-year high of $38.49 and a one-year low of $24.54. Currently, Boston Scientific Corp has an average volume of 6.19M.
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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.
