FDA Put Sales Of BSX’s ICD Products On Hold

Analysts at JP Morgan downgrade Boston Scientific (NYSE: BSX) from "overweight" to "neutral." The target price for BSX has been reduced from $9.50 to $7.00.

FDA has put sales of BSX’s ICD products on hold till it receives the agency approval for a design change. According to JP Morgan, competitors St Jude Medical (NYSE: STJ) and Medtronic (NYSE: MDT) would benefit in the near future from the FDA’s decision.

BSX’s shares closed at $7.78 yesterday. More Analyst Ratings here