In a report released today, Michael Matson from Needham reiterated a Buy rating on Boston Scientific, with a price target of $121.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Michael Matson has given his Buy rating due to a combination of factors related to Boston Scientific’s strategic advancements in the intravascular lithotripsy (IVL) market. The acquisition of Bolt Medical and the anticipated launch of its laser-based IVL system for peripheral use by late 2025 are pivotal developments. Additionally, the commencement of the FRACTURE study for coronary applications demonstrates Boston Scientific’s commitment to expanding its product offerings.
Boston Scientific’s IVL system is expected to offer superior deliverability and more consistent acoustic treatment compared to competitors like Shockwave Medical. The company’s existing robust Peripheral Interventions and Interventional Cardiology portfolios, along with its extensive sales force, position it well to quickly gain market share in the IVL sector. These factors are projected to contribute positively to Boston Scientific’s revenue and earnings per share growth over the next five years, justifying the Buy rating.
According to TipRanks, Matson is an analyst with an average return of -4.7% and a 40.96% success rate. Matson covers the Healthcare sector, focusing on stocks such as TransMedics Group, Merit Medical Systems, and Lucid Diagnostics.
In another report released yesterday, Leerink Partners also maintained a Buy rating on the stock with a $127.00 price target.