Boston Scientific price target raised to $61 from $57 at Needham

Needham analyst Mike Matson raised the firm’s price target on Boston Scientific to $61 from $57 and keeps a Buy rating on the shares. The company’s organic revenue growth slowed to 11.6% in Q2 from 14.0% in Q1, but its operating margin improved by 160 bps driven by gross margin expansion, the analyst tells investors in a research note. Q2 results follow an “incredible” mid-teens growth rate in Q1 and amid sky-high procedure growth expectations, but in a normal world, Q2 was excellent, the firm adds.