Analysts’ recommendations on Boston Scientific
Boston Scientific (BSX) is one of the leading medical technology players in the United States with offerings across a range of interventional medical specialties. It operates in three business segments: MedSurg, Rhythm Management, and Cardiovascular.
The company announced its 4Q17 and 2017 earnings results on February 1, 2018. Its results exceeded analysts’ estimates. In this article, let’s take a look at analysts’ recent recommendations and target prices on BSX stock for the next 12 months following its earnings release.
According to estimates provided to Reuters by 24 investment research companies on February 14, 2018, ~79% of analysts (or 19) call BSX stock a “buy.” The remaining 21% of analysts (or five) have “hold” ratings on BSX. No companies have given the stock “sell” ratings despite its recent price fall. Investors can check out the above chart for a recommendation summary for Boston Scientific for the next 12 months.
As per analysts’ estimates, and as we can see in the chart above, the consensus 12-month price target for BSX stock is $31.60, which implies a 12-month return potential of ~21%. This return has been calculated using BSX’s closing price of $26.18 per share as of February 13, 2018.
Analysts’ rating revisions and updates
Following Boston Scientific’s 4Q17 earnings results, Needham & Company raised its target price on BSX stock from $32 to $35. Analyst Mike Matson at Needham & Company maintained his “strong buy” rating on the stock and said, “We reiterate our Strong Buy rating given BSX’s strong product cycle, our expectation that Lotus accelerates growth in 2019, and potential for upside to estimates.”
On February 14, 2018, analysts had given BSX’s peers Medtronic (MDT), Abbott Laboratories (ABT), and Edwards Lifesciences (EW) consensus 12-month price targets of $91.98, $68.22, and $144.20, respectively. These target prices imply potential 12-month returns of 11.7%, 16.1%, and 8.3%, respectively, for these companies.