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Fly News Breaks for May 14, 2018
BSX
May 14, 2018 | 09:17 EDT
Stifel analyst Rick Wise commented on the "60 Minutes" story regarding Boston Scientific transvaginal mesh products and associated lawsuits, calling the report "unsettling...but likely overstated." He notes that the company has reached or is near settlement on 47,500 of the known 49,500 mesh legal claims, has a $1.5B legal reserve for the matter and has said it expects the majority of the remaining mesh claims to be resolved in 2018. Wise keeps a Buy rating and $33 price target on Boston Scientific shares.
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