FDA Labeling Seen As Positive For Boston Scientific

According to Piper Jaffray, based on the results from the MADIT CRT study, Boston Scientific's BSX garnered label expansion on its CRT-D devices to include mildly symptomatic NYHA Class I/II heart failure patients with left bundle branch block. the news is viewed as an incremental positive for Boston's CRM franchise and the market as a whole. The potential mix shift from ICDs to higher priced CRT-Ds could help offset broader pricing pressures in the market. Oppenheimer says, though the label expansion was expected given a favorable FDA advisory panel vote this past March, the approval should still provide a positive sentiment lift for Boston nonetheless. Risks include slower than expected market growth, pricing pressures, reimbursement risks and competitive risks. Piper Jaffray reiterates its Neutral rating for BSX and a target price of $7. BSX closed Thursday at $5.45 Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.