Analyst Patrick Wood of Morgan Stanley maintained a Buy rating on Boston Scientific (BSX – Research Report), retaining the price target of $100.00.
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Patrick Wood’s rating is based on the impressive performance and potential of Boston Scientific’s Endoscopy division, which is often overlooked but highly profitable with operating margins around 40%. This division significantly contributes to the company’s overall strength, highlighting its underappreciated role in the market.
Additionally, the acquisition of Apollo Endosurgery is a strategic move that enhances Boston Scientific’s endoluminal approach to sleeve gastrectomy. This procedure offers a less invasive alternative with comparable efficacy to traditional surgery, providing a significant growth opportunity. The expected increase in bariatric procedure volumes and the integration of Apollo’s technologies into Boston Scientific further supports the Buy rating.
According to TipRanks, Wood is a 3-star analyst with an average return of 5.1% and a 61.97% success rate. Wood covers the Healthcare sector, focusing on stocks such as Boston Scientific, Insulet, and Intuitive Surgical.
In another report released yesterday, Piper Sandler also assigned a Buy rating to the stock with a $115.00 price target.