Investment Analysts’ Weekly Ratings Changes for Boston Scientific (BSX)
Boston Scientific (NYSE: BSX) was the recipient of a ratings changes during the seven days:
- Boston Scientific had its “hold” rating reaffirmed by analysts at Argus.
- Boston Scientific had its price target lowered by analysts at Bank of America from $8.50 to $6.30. They now have a “neutral” rating on the stock. They wrote, “In order to be more bullish on BSX, we need more conviction that ASP declines in BSX’s core drug-eluting stent market will moderate and the Promus Element stent can be successful in the U.S. in order to allow for operating leverage, and we need more conviction that BSX can grow. If we became more convinced that operating leverage will materialize, it would make it much easier to call BSX cheap and to argue that a positive risk reward exists while we wait for management’s plan to play out.”
- Boston Scientific had its “neutral” rating reaffirmed by analysts at JPMorgan Chase. They now have a $6.50 price target on the stock.
- Boston Scientific had its price target raised by analysts at Piper Jaffray to $6.00. They wrote, “On Friday, BSX announced approval for its S-ICD system, ahead of previous guidance for 1H13. The approval is the first of its kind in the US for a subcutaneous defibrillator (S-ICD) for the treatment of patients at risk for sudden cardiac arrest. …With the S-ICD approval, as well as the recent (9/24) RELIANCE® 4-Front LV Lead approval in Europe, we believe CRM division sales are likely to stabilize. We are raising our PT to $6.00 from $5.50 for BSX (based on 16x CY2013 EPS of $0.38, up from 14x CY12 EPS of $0.41 to reflect the new year and upsides from S-ICD and the RELIANCE LV lead).”
- Boston Scientific had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co..
Boston Scientific traded down 0.86% on Friday, hitting $5.76. Boston Scientific has a 1-year low of $4.79 and a 1-year high of $6.41. The company’s market cap is $8.173 billion.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.