Copyright Benzinga
Boston Scientific Corp (NYSE:BSX) delivered "another set of strong top-line results," which trickled down to an earnings beat, according to Goldman Sachs. BSX stock is showing exceptional strength. Check the market position here. The Boston Scientific Analyst: Analyst David Roman reiterated a Buy rating and price target of $120. The Boston Scientific Thesis: The company's total sales grew 20.3% year-on-year to around $5.1 billion, topping the consensus of $5.0 billion, Roman said in the note. Check out other analyst stock ratings. Organic revenue grew 15.3%, decelerating from the previous two quarters, but coming in higher than Street expectations of 13.3%, "driven by U.S. Farapulse and acceleration in WATCHMAN," he added. "Importantly, we are seeing an uptick in other parts of the portfolio such as Endoscopy and Neuromodulation, which should help bolster growth into future periods," the analyst wrote. Management raised their full-year revenue growth guidance to 15.5%, from their prior projection of 14%-15% prior, and earnings guidance to $3.02 $3.04 per share, from $2.95-$2.99 per share, he further stated. BSX Price Action: Boston Scientific shares were up 4.27% at $104.17 at the time of publication on Wednesday, according to Benzinga Pro data. Boston Scientific operates in the Health Care Equipment & Supplies industry, characterized by a notably high P/E ratio of 59.46, indicating elevated investor expectations for future growth relative to earnings. The stock’s 52-week range of $80.64 to $109.50, with current levels approaching the upper end, suggests strong market confidence amid increasing demand for innovative medical technologies. With a market cap of $154.07 billion, the company is well-positioned within the rapidly evolving healthcare sector. Read More: Boston Scientific To Acquire Nalu Medical In $600 Million Pain Relief Deal Image created using artificial intelligence via DALL-E.
