Nucor earnings beat by $0.08, revenue fell short of estimates
Investing.com -- Needham upgraded Boston Scientific Corp (NYSE:BSX) to “Buy”, saying competition from pulsed field ablation (PFA) rivals looks less intense for its key product than it was earlier feared, and citing near- and long-term upside drivers in the company’s pipeline and recent acquisitions.
The firm pointed to a recent survey of heart specialists, which showed that Boston Scientific’s FARAPULSE system remains the preferred option for a common heart procedure called ablation.
While rivals like Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ) have introduced competing systems, doctors surveyed expressed concerns over safety and availability.
Boston Scientific’s market share in this area is expected to rise over the next year, Needham said.
The firm also sees renewed momentum for the company’s WATCHMAN heart implant, which is used to prevent strokes.
Doctors increasingly favour using WATCHMAN during other procedures, which could boost near-term sales.
Longer term, Needham expects a major clinical trial called CHAMPION-AF to potentially expand the device’s use among more patients, with results due in the first half of 2026.
Recent acquisitions are also seen as adding to Boston Scientific’s growth story.
Bolt Medical’s new device for treating artery disease recently gained U.S. approval, while SoniVie is developing a treatment for high blood pressure. Both target large markets, Needham said.
While Boston Scientific shares trade at a premium to industry peers, the firm believes the stock is now more reasonably priced after a recent pullback and offers attractive long-term potential.