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BSX

Boston Scientific

$21.46

0.12 (0.56%)

, GI

EndoChoice

08:42
11/22/16
11/22
08:42
11/22/16
08:42

Boston Scientific closes acquisition of EndoChoice

Boston Scientific (BSX) announced the close of its acquisition of EndoChoice Holdings (GI). With the completion of the acquisition, EndoChoice will become part of the Boston Scientific Endoscopy business. The two organizations announced a definitive agreement on September 27 for Boston Scientific to acquire the EndoChoice business at a cash price of $8.00 per share for an approximate total of $210M. The acquisition is expected to be breakeven to Boston Scientific adjusted EPS in 2017, and accretive thereafter. The transaction is expected to be less accretive or dilutive, as the case may be, on a GAAP basis, due to amortization expense and transaction and integration costs. EndoChoice generated approximately $75M of total sales in the twelve-month period ended September 30.

BSX

Boston Scientific

$21.46

0.12 (0.56%)

GI

EndoChoice

  • 29

    Nov

BSX Boston Scientific
$21.46

0.12 (0.56%)

06/08/16
GUGG
06/08/16
INITIATION
Target $26
GUGG
Buy
Boston Scientific initiated with a Buy at Guggenheim
Guggenheim analyst Chris Pasquale initiated Boston Scientific with a Buy rating and price target of $26.
08/01/16
STFL
08/01/16
NO CHANGE
STFL
Boston Scientific estimates raised at Stifel
Stifel analyst Rick Wise raised his estimates for Boston Scientific citing clinicians' increased optimism about the company's Lotus transcatheter aortic valve replacement product. Wise now expects Lotus to have a 20% share of the market in 2020, up from 12% previously. He keeps a $28 price target and Buy rating on the stock.
09/01/16
ARGS
09/01/16
UPGRADE
ARGS
Buy
Boston Scientific upgraded to Buy from Hold at Argus
Argus analyst David Toung believes that Boston Scientific reported "strong" Q2 sales, while the company is gaining share. He thinks that the stock's valuation is attractive. Target $33.
09/01/16
09/01/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Boston Scientific (BSX) upgraded to Buy from Hold at Argus by analyst David Toung, who believes that the company reported "strong" Q2 sales and is gaining share. 2. WEX Inc. (WEX) upgraded to Outperform from Underperform at CLSA by analyst Tom McCrohan who increased his average fuel price outlook, which resulted in an increase in earnings contribution of approximately 30c per share for both 2017 and 2018. Additionally, the analyst said management is beginning to implement higher late fees on its small business clients, which can unlock 90c per share of additional earnings power as small fleet customers incur higher late fees on overdue balances. 3. Nomura (NMR) upgraded to Hold from Underperform at Jefferies by analyst Makarim Salman, who still cautions investors not to "chase the momentum" following the company's positive Q1 earnings. 4. Seacoast Banking (SBCF) upgraded to Outperform from Market Perform at Keefe Bruyette by analyst Jefferson Harralson, who thinks the company is about to "ramp to a meaningfully higher profitability" following its efficiency improvements. 5. Randgold (GOLD) upgraded to Buy from Hold at Canaccord, citing valuation following its Q2 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GI EndoChoice

03/24/16
03/24/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Petrobras (PBR) downgraded to Sell at Deutsche Bank by analyst Alexander Burgansky, who said he sees no upside for the equity with negative net income likely in both 2016 and 2017. 2. Lannett (LCI) downgraded to Sell at Canaccord after the company cut its guidance to below consensus expectations. 3. Cognex (CGNX) downgraded to Underperform at CLSA by analyst Jeremie Capron, who said Apple's (AAPL) new iPhone SE is essentially a refreshed iPhone 5S, which will likely be made with older equipment and raises the risk that Cognex will not meet lofty consensus expectations. Capron sees increased earnings risk for the rest of the year given the weaker manufacturing capex environment and developments at Apple and views risk/reward as unfavorable following the recent strength. 4. EndoChoice (GI) downgraded to Underperform at BofA/Merrill due to expectations that low margin microcaps will not outperform enough to compensate for the relative risk taken. 5. General Dynamics (GD) downgraded to Hold at Deutsche Bank by analyst Myles Walton, who said Gulfstream G650 inventory and price trends are "quickly becoming a problem." Walton added that the available for sale G650s moved from 9 to 22 over the last five months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/13/16
JPMS
07/13/16
INITIATION
Target $10
JPMS
Overweight
EndoChoice assumed with an Overweight at JPMorgan
JPMorgan analyst Robbie Marcus assumed coverage of EndoChoice with an Overweight rating and $10 price target. The rating and price target are unchanged.
08/04/16
JPMS
08/04/16
DOWNGRADE
Target $5.5
JPMS
Neutral
EndoChoice downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Robbie Marcus downgraded EndoChoice to Neutral citing concerns over profitability and a lack of conviction in the Fuse adoption rate following the company's "disappointing" Q2 results. The analyst cut his price target for the shares to $5.50 from $10.
08/04/16
WBLR
08/04/16
DOWNGRADE
WBLR
Market Perform
EndoChoice downgraded to Market Perform from Outperform at William Blair
William Blair analyst Margaret Kaczor downgraded EndoChoice to Market Perform after lowering her estimates following the company's weaker than expected Q2 results. JPMorgan this morning also downgraded EndoChoice.

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