Boston Scientific stock maintains Buy rating at Canaccord after strong Q3

Investing.com - Boston Scientific (NYSE:BSX), a prominent player in the Healthcare Equipment & Supplies industry with a market capitalization of $154 billion, maintained its Buy rating and $132.00 price target at Canaccord Genuity following the medical device maker’s third-quarter earnings report that exceeded analyst expectations. According to InvestingPro analysis, the stock is currently trading above its Fair Value.

The company reported third-quarter net revenue of $5,065 million, representing 15.3% year-over-year organic growth, which surpassed Canaccord’s estimate of $4,958 million and consensus expectations of $4,969 million.

Boston Scientific delivered adjusted earnings per share of $0.75 for the quarter, significantly higher than Canaccord’s estimate of $0.70 and the consensus forecast of $0.71, driven primarily by a substantial improvement in gross margins.

Following these results, Boston Scientific raised its full-year 2025 guidance, now projecting growth of approximately 20% and adjusted earnings per share of $3.02-$3.04, an increase from previous forecasts.

Canaccord highlighted Boston Scientific’s core growth drivers, particularly its Watchman and Farapulse products, while noting the company’s continued investments in growth opportunities including IVL, the recent Nalu PNS acquisition announcement, RDN, and expected label expansions of existing products.

In other recent news, Boston Scientific reported strong third-quarter results, with revenue reaching $5.065 billion, marking a 20.3% reported growth and 15.3% organic growth. This performance exceeded consensus estimates of $4.969 billion. The company also posted adjusted earnings per share of $0.75, surpassing the consensus estimate of $0.71 and the high end of its guidance range. Following these results, UBS raised its price target for Boston Scientific to $140, highlighting the company’s robust product cycle. Leerink Partners also increased its price target to $130, noting that worldwide sales exceeded expectations by 2%. Goldman Sachs adjusted its price target to $124, citing the company’s strong positioning for growth. Stifel reiterated a Buy rating with a $125 target, expressing confidence in Boston Scientific’s long-term revenue growth outlook. Additionally, BTIG maintained its Buy rating with a $132 target after the company’s earnings beat.

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