Growth Is Already Factored In At Boston Scientific, Analyst Says

In a report published Monday, Argus Research analyst David Toung maintained a Hold rating on

. The company has an "impressive line-up of new products that have been or are about to be launched." Earlier this month, Boston Scientific launched the Watchman Left Atrial Appendage closure device and a second-generation version of the lead-less subcutaneous ICD. The company has plans to launch Synergy, a drug eluting bioresorbable stent later this year. "While the company has an impressive line-up of new products, they address end markets that have slow growth (cardiac rhythm management and coronary stents)," Toung said. The EPS estimate for 2015 has been raised from $0.86 to $0.90 to reflect the company's updated guidance. The analyst expressed concern that two of Boston Scientific's largest product areas, namely CRM and coronary stents, are addressing markets characterized with "lackluster growth." The company's share price has surged over 40% over the past six months, ahead of the S&P 500 and the industry benchmark. Following this outperformance of other MedTech companies, Toung believes that the "growth drivers have already been priced into the stock."