Friday - In a recent update, RBC Capital analysts have maintained their Outperform rating on Boston Scientific (NYSE:BSX) shares, with a steady price target of $105.00. The stock, currently trading at $98.44 and showing a remarkable 61% return over the past year, has caught analysts’ attention. They expressed a positive outlook on the company’s future, highlighting its operational focus and potential growth catalysts for the year 2025. According to InvestingPro, the stock is currently trading above its Fair Value, reflecting strong investor confidence.
Boston Scientific’s recent discussions on January 16, regarding its operational strategies and the impact of its latest mergers and acquisitions, have reinforced the analysts’ confidence in the company’s trajectory. With an impressive "GREAT" Financial Health score from InvestingPro and robust revenue growth of 15.66%, the firm’s engagement with investors over the past week further solidified this view.
Analysts at RBC Capital are particularly optimistic about Boston Scientific’s growth prospects, noting an increasing weighted average market growth rate (WAMGR), which is expected to reach 8% in 2024 and 9% in 2026. They identified several growth drivers for the company, including its aim to become a leader in the Pulmonary Fibrosis Ablation (PFA) category and the significant opportunities in the Left Atrial Appendage Closure (LAAC) market.
RBC Capital’s analysts concluded their remarks by emphasizing the potential for Boston Scientific’s performance to surpass expectations, reiterating their confidence in the company’s strong setup for 2025.
In other recent news, Boston Scientific Corp (NYSE:BSX) has achieved preliminary court approval for a settlement related to past shareholder derivative actions connected to the recall and discontinuation of the LOTUS Edge Aortic Valve System.
In a separate development, the company has confirmed its 2024 financial guidance, projecting a 15% organic revenue growth and an increase in operating margins. This is expected to lead to a 20-21% year-over-year growth in earnings per share (EPS), with figures estimated to be between $2.45 and $2.47. Citi analyst reaffirmed a Buy rating in light of this information.
In addition, Deutsche Bank (ETR:DBKGn) analysts raised their rating on Boston Scientific shares from Hold to Buy. Truist Securities also expressed a continued optimistic stance on Boston Scientific, maintaining a Buy rating and a price target of $110.00. The company recently announced its acquisition of Bolt Medical (TASE:PMCN), a private company specializing in intravascular lithotripsy (IVL) technology used in coronary and peripheral artery disease treatments.
Lastly, Boston Scientific is set to acquire Bolt Medical, a developer of an innovative laser-based platform for treating artery disease. This strategic move is expected to expand Boston Scientific’s cardiovascular product portfolio and marks its entry into the intravascular lithotripsy (IVL) market. The terms of the deal include an upfront payment of approximately $443 million for the remaining 74% stake in Bolt Medical.
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