In a report released today, Michael Matson from Needham reiterated a Buy rating on Boston Scientific, with a price target of $121.00.
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Michael Matson has given his Buy rating due to a combination of factors surrounding Boston Scientific’s strategic acquisition. The company announced its agreement to acquire Nalu Medical, a move expected to bolster its position in the chronic neuropathic pain treatment market. Nalu Medical’s innovative technology, the Nalu system, which is FDA-cleared for both spinal cord and peripheral nerve stimulation, presents a significant growth opportunity given the under-penetrated market in the United States.
Matson highlights that the acquisition is anticipated to contribute positively to Boston Scientific’s organic growth once fully integrated. Although the acquisition is projected to have a minimal impact on the company’s adjusted earnings per share by 2026, it is expected to be accretive thereafter. This strategic move aligns with Boston Scientific’s M&A strategy, which Matson views as crucial for maintaining growth rates above industry peers, reinforcing his Buy rating.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $115.00 price target.
Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BSX in relation to earlier this year.