Analysts are reshuffling their medtech coverage. A wave of recommendation removals hit the sector Friday, with Medtronic, Abbott Laboratories, Boston Scientific, and Edwards Lifesciences all seeing at least one broker drop coverage.
Boston Scientific drew the most attention. Multiple simultaneous changes hit the $73 billion company. Its consensus buy count ticked up from 29 to 27 analysts. The average target price slipped slightly to $79.40.
Stryker took the only clear target price cut. Its average target fell to $389.24. The $118 billion orthopedics giant retains 21 buy ratings. One sell recommendation remains in place.
On the energy side, Devon Energy was the lone bright spot. Consensus bumped its average target to $61.24. The oil producer carries a short interest of just 2.4% of free float. That suggests little bearish positioning despite macro headwinds in crude.
DexCom and Insulet also lost coverage from at least one analyst. Both diabetes device makers maintain strong buy-side support. DexCom counts 24 buys against just one sell.
The pattern points to routine end-of-period coverage resets. Medtech bulls remain in the majority across the board.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
