Boston Scientific EP Sales Flat at $606M and Price Targets Cut to $109-$112
Canaccord Genuity cut Boston Scientific’s target from $112 to $109, retaining a buy rating with 46% upside, and Bernstein reduced its target from $130 to $112 with a maintained outperform rating and 50% upside. U.S. electrophysiology sales were $606 million, flat year-on-year and 6% below consensus estimates.
1. Hedge Fund Endorsement
Boston Scientific ranks among the top ten healthcare equipment stocks in hedge fund portfolios, highlighting strong institutional interest.
2. Analyst Price Target Reductions
On February 17, Canaccord Genuity cut its price target from $112 to $109 while reaffirming a buy rating and 46% upside; on February 6, Bernstein trimmed its target from $130 to $112 and maintained an outperform rating with 50% upside.
3. EP Sales Results
U.S. electrophysiology sales reached $606 million for the quarter, remaining flat year-on-year and 6% below consensus estimates, raising concerns over recent competitive pressures.
4. Business Overview
The company operates two segments—MedSurg and Cardiovascular—and offers devices for interventional specialties, including biliary stent systems, electrocautery enhanced delivery systems, direct visualization systems, and single-use duodeno-scopes.