BTIG raised the firm’s price target on Boston Scientific (BSX) to $97 from $93 and keeps a Buy rating on the shares. The firm notes that while expectations were running high for Boston Scientific into this Q3 print, results did not disappoint. But BTIG and investors were caught off guard by commentary on a temporary pause for the AVANT GUARD trial studying pulsed field ablation as first-line therapy in persistent atrial fibrillation. The firm does not think there is cause for alarm since the “unanticipated observations” are not life-threatening, but the hyperfocus on Farapulse means Boston Scientific is trading down despite a stellar report. BTIG thinks this is short-sighted, especially since enrollment is expected to resume soon, but acknowledges wariness about anything going wrong with a key product and potential TAM-expanding effort.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BSX:
- Unusually active option classes on open October 23rd
- Boston Scientific raises FY24 adjusted EPS view to $2.45-$2.47 from $2.38-$2.42
- Boston Scientific reports Q3 adjusted EPS 63c, consensus 59c
- Boston Scientific sees Q4 adjusted EPS 64c-66c, consensus 64c
- Notable companies reporting before tomorrow’s open
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
