Analysts’ views on Boston Scientific
Boston Scientific (BSX) announced its Q2 2018 results on July 25, exceeding analysts’ estimates. That day, BSX stock rose ~2.2%, while the iShares US Medical Devices ETF (IHI) rose ~1.4%. BSX comprises ~4.7% of IHI.
Since the results, the stock has fallen 2.7%. In this article, we’ll look at analysts’ latest recommendations for BSX stock. Of the 24 analysts covering BSX, 20 (83%) recommend “buy” or “strong buy,” and four recommend “hold,” as shown in the chart below.
As of yesterday, analysts’ target price for BSX was $37.95, which implies a ~13.7% return over the next 12 months based on the stock’s July 31 price of $33.61. Peers Abbott Laboratories (ABT), Medtronic (MDT), and Thermo Fisher Scientific (TMO) have average target prices of $70.81, $94.60, and $251.43, respectively, which imply 9.6%, 5.2%, and 7.8% returns over the next 12 months.
Revisions following earnings results
Following Boston Scientific’s Q2 2018 earnings release on July 25, Morgan Stanley raised its target price for BSX stock from $33 to $38, while Jefferies increased its target price from $31 to $34. BMO and Raymond James also raised their target prices, from $36 to $38, and $39 to $40. In the next article, we’ll discuss Boston Scientific’s sales performance in Q2 2018 and expectations.
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