TD Cowen analyst Josh Jennings maintains $Boston Scientific (BSX.US)$ with a buy rating, and maintains the target price at $100.
According to TipRanks data, the analyst has a success rate of 54.6% and a total average return of 4.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Boston Scientific (BSX.US)$'s main analysts recently are as follows:
Boston Scientific has presented a quarter that exceeded forecasts on all fronts, in spite of already lofty anticipations. Nonetheless, the company's shares are currently experiencing pressure due to the temporary halt of the AVANT GUARD clinical trial, which is investigating Farapulse in a new patient cohort. It is essential to note that the affected patient segment is not currently receiving treatment, that there are certain observations under evaluation, and that the enrollment for the study is anticipated to recommence shortly.
Boston Scientific's Q3 outcomes were characterized as 'impressive,' coinciding with an elevation in management's 2024 guidance, now forecasting an exit with +15% organic sales growth. The company's stock experienced a decline following a temporary halt in an EP trial, AVANTGUARD. However, this reaction is considered to be exaggerated when taking into account insights from key opinion leaders.
The setback in the AVANT Guard trial is not associated with a mortality event or triggered by regulatory authority, and the momentum for global Farapulse is considered sustainable over the medium term. It is believed that the recent decline in Boston Scientific shares offers an attractive entry point for investors.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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