Needham & Company Starts Boston Scientific (BSX) at Hold

Needham & Company initiates coverage on Boston Scientific (NYSE: BSX) with a Hold rating.

Analyst Mike Matson states, "In our view, BSX has the lowest potential revenue growth among its large-cap cardio peers due to its business mix. We believe that BSX faces a new product lull in the US during 2015, just at it laps its US Promus PREMIER launch. WATCHMAN could be BSX's most significant US product launch in 2015, but we still see risk around if and when it receives FDA approval and its exact indications. We expect BSX to sustain upper-single digit EPS growth driven by low-single-digit revenue growth, modest SG&A leverage, and ongoing share repurchases. Given this, and a valuation that is above peers, we are initiating coverage with a Hold rating."

For an analyst ratings summary and ratings history on Boston Scientific click here. For more ratings news on Boston Scientific click here.

Shares of Boston Scientific closed at $11.92 yesterday.

You May Also Be Interested In

• TD Cowen Resumes EQT Corp. (EQT) at Hold
• B.Riley Resumes EverQuote (EVER) at Buy
• RBC Capital Starts Inspire Medical Systems (INSP) at Outperform