2015 All-America Research Team: Medical Supplies & Devices, No. 2: David Lewis
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2015 All-America Research Team: Medical Supplies & Devices, No. 2: David Lewis

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After holding steady in third place since his 2012 debut, Morgan Stanley’s David Lewis advances to No. 2.

< The 2015 All-America Research Team

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David Lewis

Morgan Stanley

First-Place Appearances: 0


Total appearances: 4


Analyst debut: 2012


After holding steady in third place since his 2012 debut, Morgan Stanley’s David Lewis advances to No. 2, impressing clients with his “good, detailed modeling,” in the words of one portfolio manager. “He has a good grasp on sentiment and the issues that matter,” this fan adds. U.S. medical supplies and devices shares paced the S&P 500 by 11.3 percentage points over the 12 months through mid-September, rising 8.7 percent; but over the same period, domestic health care stocks overall rose 10.5 percent. “The device sector has lagged the broader [health care] index for many years,” notes Lewis, “so performance this year is consistent with that trend.” Long an advocate of Marlborough, Massachusetts–based Boston Scientific Corp., he remains convinced that the manufacturer merits an overweight rating, anticipating benefits from a multiyear restructuring story. “Boston has laid out an accelerating growth profile that could reach the high single digits by 2018,” he says. The company’s Synergy stent system and its defibrillator, Emblem, will help push that expansion, the analyst believes, as will its devices to aid in certain atrial and aortic valve replacement procedures. Lewis, 40, expects Boston Scientific’s new opportunities to deliver $175 million to $200 million in revenue by 2016. The stock jumped 34.9 percent, to $16.75, for the 12-month period through mid-September; he pegs it at $20.



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