Boston Scientific Corporation (BSX - Free Report) is in the process of conducting a Medical Device Correction of certain AngioJet Ultra Consoles, which were shipped to customers without the required operator’s manual. The company issued an urgent field safety notice to inform the users about the same but is not recalling any products.
However, the news had a negligible impact on the stock price, which was closed at $42.29 on Nov 18, following the surfacing of the safety notice.
Boston Scientific did not witness any adverse impact on the users’ health. It expects none to occur as well.
Few Words on AngioJet
AngioJet is a pharmacomechanical peripheral thrombectomy device that includes active aspiration and Power Pulse lytic delivery. It is designed to treat the widest range of thrombosed (blocked blood) vessels by rapidly restoring blood flow.
The system provides the ability and flexibility to remove the thrombus (a blood clot formed within the vascular system of the body, thus hampering blood flow) and quick restoration of the blood flow. It is easy to use and effectively improves the health condition.
Reason Behind the Safety Notice
Per the company, the AngioJet Ultra consoles meet design specifications and are expected to perform as intended. However, as the consoles contain interactive features, the product performance might be delayed due to the missing operator manual.
Boston Scientific is in the process of dispatching the missing manuals with the field safety notice.
It has strongly advised users to read the field safety notice and also create awareness among other users.
The company’s shares have gained 23.2% in the past year compared with the industry’s growth of 8.2%.
Zacks Rank & Key Picks
Currently, Boston Scientific carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Haemonetics Corporation (HAE - Free Report) , NuVasive, Inc (NUVA - Free Report) and ResMed Inc (RMD - Free Report) .
Haemonetics, currently carrying a Zacks Rank #2 (Buy), has a projected long-term earnings growth rate of 13.5%.
NuVasive’s long-term earnings growth rate is estimated at 10.9%. The company currently has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ResMed’s long-term earnings growth rate is estimated at 12.9%. It currently carries a Zacks Rank #2.
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