Piper Jaffray analyst Matt O'Brien believes the recent Q3 results of neuromodulation incumbents, Boston Scientific (BSX) and Abbott (ABT), "reinforce the dynamic characteristics" of the spinal cord stimulation marketplace. Nuvectra's (NVTR) Algovita is likely one of the beneficiaries and could post upside in the quarter, O'Brien tells investors in a research note. The analyst says Nuvectra continues to be his top-microcap pick with a "reasonable valuation." Further, the recent softness in the shares "provides an excellent entry point for a name that is still in the early innings of gaining SCS share." He keeps an Overweight rating on Nuvectra with a $25 price target.

RBC Capital raised the firm's price target on Boston Scientific to $82 from $78 and keeps an Outperform rating on the shares. Given the company's Q1 momentum on seales and earnings, along with its new product ramp, the management's updated FY24 guidance is likely "conservative" despite easier comps, the analyst tells investors in a research note. RBC adds that the stock is its top pick in the Sector based on its "industry-leading growth profile".

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.

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