Boston Scientific named a best idea in large cap medtech by BofA

Jun. 15, 2022 1:52 PM ETBoston Scientific Corporation (BSX)By: Jonathan Block, SA News Editor4 Comments

Boston Scientific Canada"s facility in Mississauga, ON, Canada.

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  • BofA Securities has named Boston Scientific as a one of the best positioned large cap companies in the medtech space and has likely given conservative guidance.
  • The firm has a buy rating on shares and a $47 price target (~33% upside based on Tuesday's close).
  • BofA analysts noted that because Boston Scientific (NYSE:BSX) owns the majority of its manufacturing, it has better control over its supply chain.
  • They added that the company's cardio products will likely hold up better than the orthopedics portfolio if a recession hits.
  • BofA noted that the company's Watchman left atrial appendage closure (LAAC) device will accelerate the growth for the LAAC market.
  • They added Boston Scientific (BSX) has "deals turning organic that could add 100bps to 2023 organic growth."
  • Check out why Seeking Alpha contributor Mike Zaccardi also views Boston Scientific (BSX) as a buy.

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