Boston Scientific (BSX) Sees 3Q Pressure From COVID and Staffing Mandates - Morgan Stanley

October 28, 2021 8:35 AM EDT
Get Alerts BSX Hot Sheet
Price: $39.22 +2.83%

Rating Summary:
    27 Buy, 12 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 70
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Morgan Stanley analyst Cecilia Furlong reiterated an Overweight rating and $53.00 price target on Boston Scientific (NYSE: BSX) after the company experienced 3Q COVID driven procedure pressure compounded by staffing shortages.

The analyst stated "For 4Q, the company guided to 13-17% of reported revenue growth (slightly below Cns. at 18%) and 12-16% of organic growth. At the high end, guidance implies 4.5 to 5 pts of comp-adjusted momentum acceleration, at the midpoint, 2.5 to 3 pts, and at the low end, momentum stability to slight, sub-1 pt acceleration. EPS guidance is in line with Cns. at $0.43-0.45. We view the 4Q guidance as prudently conservative as it captures a wider-than-normal range, with the low end factoring in COVID-19 uncertainty and impact from hospital staffing shortages, but also setting up the potential to deliver on the high end if COVID-19 pressures wane sufficiently."

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 $43.73 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments

Related Entities

Morgan Stanley