Boston Scientific Corp Named Top Large-Cap Medtech Pick

TD Cowen has identified Boston Scientific Corp (NYSE: BSX) as its top-performing large-cap medtech pick for 2025 due to strong momentum in its commercial portfolio and a robust product pipeline.

Price Target Increase

The brokerage raised its price target on the stock from $100 to $110, highlighting Boston Scientific's ability to maintain premium valuation multiples thanks to its consistent growth and earnings trajectory.

Revenue Growth Expectations

TD Cowen anticipates the company will sustain double-digit organic revenue growth, driven by flagship products like Farapulse and Watchman, which are expected to contribute significantly to this organic growth.

Competitive Positioning

Boston Scientific is noted for its operational margin expansion, positioning it as a standout in the medical devices sector.
– Farapulse is expected to maintain its market leadership in pulsed-field ablation (PFA), despite increasing competition, with overall PFA market growth balancing any potential share loss.
– Watchman, aided by positive trial results, is benefiting from the rising number of procedures for left atrial appendage closure (LAAC) and atrial fibrillation ablation.

Risks

While there are risks concerning the potential underperformance of pipeline products, TD Cowen considers this unlikely based on existing clinical evidence.