RBC Capital Markets analyst Glenn Novarro wrote that the move isn't surprising since Boston Scientific has committed to margin expansion. Operating margin was about 22% last year, but the company is targeting 25% in 2017 and 28% to 30% long-term. "We believe the restructuring efforts announced today should help the company deliver on its margin leverage goals and help Boston Scientific produce low-to-mid-teens EPS growth, which is above the industry average," Novarro wrote in a research note. The company said the program will incur charges of $175 million to $225 million, but non-GAAP EPS and revenue guidance for this year remains the same. Also late Wednesday, Guggenheim analyst Chris Pasquale launched coverage on Boston Scientific with a buy rating and a price target of 26. He noted that before current CEO Mike Mahoney took over in 2012 revenue was shrinking, but since then growth has averaged 3.9%.