LAAX device study pause a positive update for Boston Scientific, says BofA

BofA analyst Travis Steed reiterated a Buy rating and $115 price target on Boston Scientific (BSX), with the firm confirming that the Investigational Device Exemption study evaluating the LAMINAR Left Atrial Appendage Elimination, or LAAX, device was voluntarily paused. The firm thinks this is a positive update for Boston Scientific given their Watchmen Left Atrial Appendage Closure, or LAAC, device has 90% share of this market and will now have m ore time before it has competition from Johnson & Johnson (JNJ). It could also potentially help Boston Scientific’s share gains in Electrophysiology/Afib given the overlap between farapulse ablations and LAAC, the analyst tells investors in a research note.