Goldman Sachs Puts Sell on Boston Scientific
Wednesday, January 18, 2022 11:55 AM



Goldman Sachs placed Boston Scientific (BSX) shares to Sell as it sees downside to street consensus on 2012 guidance on three factors.

The brokerage expects surrounding stabilization in both DES and US ICDs are likely to be too aggressive as it feels that utilization will remain tempered and price pressure should be sustained.

Analyst Donald Roman does not expect emerging markets to move the needle because of its relatively immaterial percentage of revenue, i.e. 3 percent versus MedTech’s 10 percent. The analyst views Boston as disadvantaged versus peers due to late start.

The brokerage also sees lower levels of operating leverage, as weak top line upside should continue to pressure margins, despite ongoing cost cutting measures. The analyst sees 2012 sales to be 2.7 percent lower than street estimate and EPS 6.4 percent below consensus projection.

 

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