Needham Keeps Their Buy Rating on Boston Scientific Corp (BSX)


Needham analyst Michael Matson reiterated a Buy rating on Boston Scientific Corp (BSX) on May 9 and set a price target of $43. The company’s shares closed on Friday at $36.58.

Matson said:

“BSX announced it is acquiring the private company up front cash and commercial-based milestones. Vertiflex’s Superion system is a minimally invasive device to treat patients with lumbar spinal stenosis (LSS). BSX expects the deal to be immaterial to its adjusted EPS through 2020 and accretive thereafter. While we are a little surprised to see BSX enter the spinal surgery market, there probably are synergies with its existing pain business and we see this deal as a typical BSX transaction in which it acquires an asset allowing it to go deeper within a disease state/disorder (in this case chronic pain). We expect BSX’s string of acquisitions over the past ~18 months (including Vertiflex) to combine to provide a material benefit to its longer-term organic growth and we reiterate our Strong Buy rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 9.6% and a 64.7% 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 $43.11 average price target, implying a 17.9% upside from current levels. In a report issued on April 24, BTIG also maintained a Buy rating on the stock with a $42 price target.

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Boston Scientific Corp’s market cap is currently $50.87B and has a P/E ratio of 28.58. The company has a Price to Book ratio of 5.51.

Based on the recent corporate insider activity of 154 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.

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