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On Wednesday, Evercore ISI reaffirmed its Outperform rating and $112.00 price target for Boston Scientific Corporation (NYSE:BSX), following the company’s announcement that it will halt worldwide sales of its ACURATE neo2 and ACURATE Prime products. The decision comes after discussions with regulatory bodies that highlighted the need for increased clinical and regulatory requirements to sustain approvals. According to InvestingPro data, this development could present opportunities for competitors like Medtronic (NYSE:MDT), which currently shows strong financial health metrics and trades below its Fair Value.
Boston Scientific stated that, based on current knowledge, it expects to meet its second quarter and full-year 2025 reported and organic sales and adjusted earnings per share (EPS) guidance, which was provided during its first quarter 2025 earnings call. However, the company is not reiterating its GAAP EPS guidance at this time.
The discontinuation of these products is considered to have implications for competitors in the market. According to Evercore ISI, the move could be beneficial for Abbott Laboratories (NYSE:ABT) and Medtronic PLC (BVMF:MDTC34) (MDT), as both companies offer competitively priced, self-expanding products similar to ACURATE neo. Medtronic, currently trading at $81.8 and maintaining a 49-year streak of dividend payments with a 3.5% yield, appears well-positioned to capitalize on this market opportunity. Additionally, Edwards Lifesciences (NYSE:EW), known for its balloon-expandable products that carry a premium price, may experience some relief from Boston Scientific’s decision.
Boston Scientific’s update reflects the dynamic nature of the medical device industry, where regulatory requirements can significantly impact product offerings and market competition. Despite the discontinuation of the ACURATE product line, the company remains confident in its ability to achieve its financial targets for the upcoming quarter and the full year. For deeper insights into the medical device industry and comprehensive analysis of companies like Medtronic, visit InvestingPro, where you’ll find exclusive financial metrics, Fair Value calculations, and expert research reports covering 1,400+ top stocks.
In other recent news, Medtronic, Inc. has reported several significant developments. The company announced a fourth-quarter earnings report that surpassed expectations, with revenue growth and earnings per share (EPS) beating estimates, largely due to strong performance in its Cardiovascular division. Medtronic also provided guidance for fiscal year 2026, indicating a 5% organic growth outlook, although EPS guidance was below consensus due to tariff impacts. Analysts from RBC Capital Markets and Stifel have adjusted their price targets to $101 and $87, respectively, while maintaining their Outperform and Hold ratings.
Truist Securities increased its price target to $92, citing Medtronic’s organic revenue growth and plans to separate its Diabetes business as positive steps. Bernstein also maintained an Outperform rating with a $93 target, noting the potential benefits of the Diabetes segment spin-off and the company’s growth outlook. Evercore ISI kept its $103 price target and Outperform rating, expressing continued confidence in Medtronic’s valuation. These strategic moves, including the planned Diabetes business separation, are seen by analysts as potentially beneficial for Medtronic’s long-term growth and profitability.
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