Piper Jaffray Brooks West says the CMS' proposed decision memo for percutaneous left atrial appendage closure therapy, such as Boston Scientific Watchman device, might be interpreted to be a non-coverage decision, but that is not the case. West pointed out that CMS said that coverage would not be granted under "reasonable and necessary" but instead proposed to cover the procedure under the CED authority, with certain conditions. The analyst, who sees limited to no impact to near-term estimates from the proposal, keeps an Overweight rating on Boston Scientific shares, which are down about 4% this morning.

Evercore ISI analyst Vijay Kumar raised the firm's price target on Boston Scientific to $78 from $72 and keeps an Outperform rating on the shares as the firm said the company reported "solid results and there wasn't much to pick on." While EP franchise acceleration driven by Farapulse PFA launch "is generally well known" by the Street, the firm says it doesn't think "anyone expected ~86% US growth and ~72% International growth."

Baird analyst David Rescott raised the firm's price target on Boston Scientific to $84 from $79 and keeps an Outperform rating on the shares. The firm noted its 1Q24 revenue/adjusted EPS beat was the biggest over the past several years and one of the most compelling in diversified LGCP MedTech.

Stifel raised the firm's price target on Boston Scientific to $83 from $70 and keeps a Buy rating on the shares. The firm said the company delivered "solid" Q1 outperformance, underpinned by "important" new product launches. Looking ahead to 2024 and beyond, Stifel believes Boston Scientific could continue outperforming their Loan Repayment Program and the firm's projections.

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here