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Investing.com - Truist Securities raised its price target on Boston Scientific (NYSE:BSX) to $125.00 from $120.00 while maintaining a Buy rating on Thursday. The medical device giant, currently trading at $106.21, has shown remarkable momentum with a 43% return over the past year. According to InvestingPro data, 16 analysts have recently revised their earnings estimates upward.
The price target increase follows what Truist described as a "strong quarter with multiple tailwinds supporting higher estimates." The firm noted that Boston Scientific delivered a broad-based earnings beat, with particularly strong performance in its PFA and accelerating Watchman growth segments. This performance is reflected in the company’s impressive 21.44% revenue growth and "GREAT" financial health score, as reported by InvestingPro.
Truist indicated that Boston Scientific’s quarterly performance, ongoing momentum, and lower tariff outlook should more than offset headwinds in the TAVR (Transcatheter Aortic Valve Replacement) segment.
The research firm expressed confidence that Boston Scientific can continue to deliver upside to its now-higher guidance and anticipates "beat and raises" in the second half of 2025.
Truist slightly increased its 2026 EPS estimate for Boston Scientific, citing operational improvements and a lower tax rate as key factors behind the adjustment and subsequent price target increase.
In other recent news, Boston Scientific reported impressive second-quarter results, showcasing a 17.4% organic sales growth and earnings per share that exceeded expectations. The company achieved $5.06 billion in sales, surpassing analyst projections of $4.9 billion. This strong performance has led several firms to raise their price targets for the company. RBC Capital increased its target to $125, while Bernstein adjusted its target to $130, citing robust growth in the electrophysiology division and the Watchman device. Mizuho (NYSE:MFG) raised its target to $140, highlighting the positive impact of the FARAPULSE and WATCHMAN product lines. UBS also increased its target to $135, acknowledging the company’s strong product cycle and sales momentum. Wells Fargo (NYSE:WFC) set a new target of $124, noting significant growth in the Pulse Field Ablation technology and U.S. electrophysiology. These developments reflect Boston Scientific’s continued success and innovation in the medical device industry.
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