Analyst Marie Thibault from BTIG maintained a Buy rating on Boston Scientific and keeping the price target at $127.00.
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.
Marie Thibault has given her Buy rating due to a combination of factors surrounding Boston Scientific’s strategic acquisition of Elutia’s bioenvelope products. The acquisition, valued at $88 million, brings the EluPro and CanGaroo bioenvelopes in-house, allowing Boston Scientific to expand its product offerings in the cardiac implantable electronic devices market. This move is seen as a strategic fit, as the bioenvelope technology complements Boston Scientific’s existing portfolio and offers a competitive edge against Medtronic’s TYRX pouch.
Furthermore, the EluPro platform, which has recently received FDA approval, is designed to reduce post-operative complications, presenting a significant market opportunity estimated at $600 million in the U.S. CRM market. The existing partnership between Boston Scientific and Elutia, with Boston Scientific’s sales representatives already facilitating a significant portion of EluPro cases, suggests a seamless integration and low-effort sales process. These factors, combined with the potential clinical and handling advantages of the EluPro bioenvelope, underpin Thibault’s positive outlook on Boston Scientific’s growth prospects.
According to TipRanks, Thibault is an analyst with an average return of -3.8% and a 39.76% success rate. Thibault covers the Healthcare sector, focusing on stocks such as Irhythm Technologies, Embecta Corporation, and Orchestra BioMed Holdings.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $124.00 price target.