Penumbra Inc. to be Sold to Boston Scientific for $374 per Share
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
- Transaction Details: Penumbra, Inc. is proposed to be sold for $374 per share in cash or 3.8721 shares of Boston Scientific stock, with adjustments based on proration, indicating potential disputes over the company's valuation.
- Legal Investigation: Former Louisiana Attorney General Charles C. Foti, Jr. and Kahn Swick & Foti, LLC are investigating the adequacy of this transaction, aiming to assess whether the process reflects Penumbra's true value.
- Shareholder Rights: KSF is soliciting shareholder feedback, encouraging those who believe the transaction undervalues the company to contact them to discuss their legal rights, highlighting potential dissent regarding the deal.
- Market Reaction: The proposed sale has drawn market attention, with investors expressing concerns about Penumbra's future and the integration with Boston Scientific, which could impact the company's stock performance.
Analyst Views on BSX
Wall Street analysts forecast BSX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BSX is 125.74 USD with a low forecast of 112.00 USD and a high forecast of 140.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
20 Buy
0 Hold
0 Sell
Strong Buy
Current: 90.030
Low
112.00
Averages
125.74
High
140.00
Current: 90.030
Low
112.00
Averages
125.74
High
140.00
About BSX
Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company's MedSurg segment includes Endoscopy, Urology, and Neuromodulation. Its Endoscopy business develops and manufactures devices to diagnose and treat a range of gastrointestinal conditions with less-invasive technologies. Its Urology business develops and manufactures devices to treat various urological conditions for both male and female anatomies, including kidney stones, benign prostatic hyperplasia, prostate cancer, erectile dysfunction, and incontinence. Its Neuromodulation business develops and manufactures devices to treat various neurological movement disorders and manage chronic pain. Its Cardiovascular segment includes Cardiology and Peripheral Interventions. The Cardiology includes interventional cardiology therapies, watchman, cardiac rhythm management, and electrophysiology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
