Medical Device Manufacture Integer To Gain From Expanding Pulsed Field Ablation Market, Earns Upgrade From BofA
Portfolio Pulse from Vandana Singh
BofA Securities upgraded Integer Holdings Corporation (NYSE:ITGR) due to expected growth in the pulsed field ablation (PFA) market, forecasting PFA sales to increase from $100-200 million in 2023 to over $2 billion by 2025. Integer, a major medical device outsourcing manufacturer, supplies components for PFA devices made by Boston Scientific Corporation (NYSE:BSX), Medtronic Plc (NYSE:MDT), and Johnson & Johnson (NYSE:JNJ). The upgrade anticipates additional revenue for Integer and a stock price target increase from $105 to $135.
April 15, 2024 | 6:43 pm
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POSITIVE IMPACT
Boston Scientific, as a major player in the PFA device market and a customer of Integer, may see indirect benefits from the market's growth.
Boston Scientific's involvement in the PFA market and relationship with Integer suggests potential indirect benefits from the market's expansion.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Integer Holdings upgraded by BofA Securities due to its significant role in the expanding PFA market, with a new price target of $135.
The upgrade by BofA Securities is based on Integer's anticipated growth from the PFA market, which is expected to significantly increase its revenue and market position.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Johnson & Johnson, as a participant in the PFA device market and customer of Integer, stands to indirectly gain from the market's expansion.
Johnson & Johnson's role in the PFA market and its relationship with Integer indicate potential indirect benefits from the sector's growth.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Medtronic, involved in the PFA market and a client of Integer, could indirectly benefit from the sector's growth.
Medtronic's engagement in the PFA market and its business with Integer could lead to indirect advantages from the market's growth.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70