Boston Scientific (BSX) PT Raised to $60 at BofA Securities on Watchman Label Update

BofA Securities analyst Travis Steed raised the price target on Boston Scientific (NYSE: BSX) to $60.00 (from $55.00) while maintaining a Buy rating, saying the Watchman label update is "important."

The analyst commented, "On Monday FDA approved a label change for BSX’s Watchman FLX Left Atrial Appendage Closure (LAAC) Device. The label was updated to include the option to use Intracardiac Echocardiography (ICE) imaging for device sizing, implant guidance, and post-procedural imaging. ICE is now an alternative to the traditional transesophageal echocardiography (TEE). Importantly, ICE can materially speed up the procedure (more Watchman’s per day) as it removes the need for general anesthesia. Some patients are also hesitant to undergo general anesthesia. Longer term, this becomes important for doing LAAC with Afib Ablation (Option trial) as doctors use ICE in afib ablation."

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