In a report released today, Steven Lichtman from Oppenheimer maintained a Hold rating on Boston Scientific Corp (BSX), with a price target of $41. The company’s shares closed yesterday at $35.44.
Lichtman commented:
“1Q19 sales were $2.49B (+6.3%) below our/consensus $2.54B/$2.53B estimates; management noted impact in 1Q from the recent FDA actions on paclitaxel and mesh and temporary supply issue in Urology. FX headwind was also higher than expected. Operating margin of 25.6% was ahead of our estimate (25.4)%. EPS was $0.35 versus our/Street’s $0.36 on the lower sales. The high-end of ’19 organic sales growth guidance was lowered 50bps to 7-8%. Low-end of EPS guidance range was brought up $0.01, however, to $1.54-1.58 with lower expected tax rate an offset. 1Q growth was led by and Peripheral. Edge controlled rollout will begin in the US following this week’s FDA approval; management noted ACURATE likely remains BSX’s primary platform near term in EU.”
According to TipRanks.com, Lichtman has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.4% and a 44.2% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Tandem Diabetes Care Inc, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Boston Scientific Corp is a Strong Buy with an average price target of $44.20.
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The company has a one-year high of $41 and a one-year low of $28.71. Currently, Boston Scientific Corp has an average volume of 7.97M.
Based on the recent corporate insider activity of 161 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.
