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How Wall Street Reacted to the Delay in BSX’s Lotus Edge Launch

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Dec. 4 2020, Updated 10:52 a.m. ET

Analyst update

Boston Scientific (BSX) announced the delay in the commercialization timelines of BSX’s Lotus devices in Europe and the US on November 28, 2017. A number of analysts’ updated their view of BSX stock after the announcement.

On November 29, 2017, J.P. Morgan reaffirmed its “buy” rating on BSX stock, with a price target of $31 per share.

On the same day, BMO Capital Markets reiterated its “buy” rating on BSX stock. However, Oppenheimer maintained its “hold” rating on the stock in a research note published the same day.

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Analysts’ consensus price target and recommendations

On November 30, 2017, according to a Reuters survey consisting of 24 brokerage firms, 19 (~79%) recommend a “buy,” while five (~21%) recommend a “hold.” Notably, despite the stock dip we’ve seen in the past few days, no analyst recommends a “sell” for the stock.

Currently, the consensus analysts’ price target for BSX stock is $31.3, representing a 12-month return potential of ~19.2%. The stock ended trading at a closing price of $25.9 on November 29, 2017.

By comparison, peers Edwards Lifesciences (EW), Abbott Laboratories (ABT), and Medtronic (MDT) have consensus analyst target prices of $128.1, $61.5, $89.9, respectively. These targets imply a 12-month return potential of 9.3%, 9%, 9.5%, respectively. The iShares Russell 1000 Growth ETF (IWF) has ~0.28% of its total portfolio holdings in BSX.

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