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Investing.com - Evercore ISI has raised its price target on Boston Scientific (NYSE:BSX) to $113.00 from $110.00 while maintaining an Outperform rating on the medical device maker’s stock. The company, with a market capitalization of $155 billion, has seen its shares trade near their 52-week high of $109.50, supported by strong financial metrics according to InvestingPro data.
The firm’s decision follows Boston Scientific’s quarterly earnings report, which showed strong performance across multiple business segments. Evercore ISI noted that concerns about potential share losses in the electrophysiology (EP) segment had dominated investor sentiment heading into the earnings release.
Boston Scientific’s electrophysiology business beat expectations, which Evercore ISI indicated helped alleviate market fears about competitive pressures in that segment. The firm also highlighted that the company’s Watchman (WM) device business accelerated quarter-over-quarter, marking the third consecutive quarter of acceleration.
Gross margin execution also exceeded expectations, contributing to what Evercore ISI described as an "all-round performance" for the quarter. The firm noted that Boston Scientific shares rose approximately 5% following the earnings report.
Evercore ISI raised its estimates for Boston Scientific by approximately 2%, driving the price target increase to $113, which equates to roughly 33 times calendar year 2026 price-to-earnings ratio and 24 times EBITDA.
In other recent news, Boston Scientific reported its Q3 2025 earnings, exceeding analysts’ expectations. The company achieved an earnings per share (EPS) of $0.75, surpassing the forecasted $0.71, resulting in a 5.63% surprise. Revenue for the quarter reached $5.07 billion, which was 2.01% above projections. This strong performance was attributed to notable growth in operational sales and strategic product launches. Additionally, the positive earnings announcement reflects investor optimism. These developments highlight Boston Scientific’s ability to outperform market expectations in the recent quarter.
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