Ahead of the Bell: Boston Scientific Corporation Gets Upgrade
Published: Nov 26, 2012
Medical device maker Boston Scientific Corp. is poised for a sizeable revenue gain if competitor St. Jude Medical withdraws its Durata heart wire from the market, according to Citi analyst Matthew Dodds. In a Monday research note, Dodds raised his rating on shares of Natick, Mass.-based Boston Scientific to "Buy" from "Neutral." He said that there is a very high risk that Durata wires will be removed from the market by the middle of next year. Earlier this month, the Food and Drug Administration released a report criticizing St. Jude's testing of its Durata wires, which are used to connect heart-pacing implantable defibrillators to the heart. Defibrillators are lifesaving devices implanted in the chest to correct dangerous heart rhythms. They monitor the heart for irregular beats and occasionally trigger electrical shocks that correct the problem.