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Boston Scientific
(NYSE:BSX)
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Rating:66Neutral
Price Target:
$46.00
▼(-7.74% Downside)
Action:Reiterated
Date:10/07/26
BSX scores as above average primarily due to strong financial performance (consistent revenue growth, expanding margins, improving ROE). The score is held back by weak technicals (below major moving averages with negative momentum) and a more tempered near-term outlook from the earnings call (WATCHMAN and U.S. EP pressure and constrained 2027 EPS growth risk). Valuation is reasonable at a ~17x P/E, while corporate events add modest uncertainty due to the cyberattack despite leadership/structure positives.
Positive Factors
Revenue Growth and Margin Expansion
Sustained revenue growth alongside substantial margin expansion indicates improving scale and operating leverage across Boston Scientific’s device portfolio. This strengthens recurring earnings capacity and creates more internal resources to fund innovation, commercial execution, and future growth.
Negative Factors
WATCHMAN Growth Slowdown
WATCHMAN’s slowing growth and expected second-half decline create a meaningful headwind for Boston Scientific’s near-term revenue mix. Weaker standalone procedure trends and uncertain referral dynamics could limit adoption and delay recovery beyond the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Margin Expansion
Sustained revenue growth alongside substantial margin expansion indicates improving scale and operating leverage across Boston Scientific’s device portfolio. This strengthens recurring earnings capacity and creates more internal resources to fund innovation, commercial execution, and future growth.
Read all positive factors
Boston Scientific Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across regions (U.S., Europe, Asia and other markets), revealing where Boston Scientific is strongest, where it’s growing fastest, and how exposed it is to currency, reimbursement or regulatory risks. Regional trends show whether global demand and market access are likely to sustain overall revenue growth.
Breaks down revenue across regions (U.S., Europe, Asia and other markets), revealing where Boston Scientific is strongest, where it’s growing fastest, and how exposed it is to currency, reimbursement or regulatory risks. Regional trends show whether global demand and market access are likely to sustain overall revenue growth.
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The Fly
The FlyBoston Scientific (BSX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$61.93B
Dividend YieldN/A
Average Volume (3M)19.21M
Price to Earnings (P/E)17.2
Beta (1Y)0.77
Revenue Growth13.53%
EPS Growth46.29%
CountryUS
Employees59,000
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)2.48
Shares Outstanding1,449,229,500
10 Day Avg. Volume17,057,566
30 Day Avg. Volume19,211,249
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)5.82
Price to Sales (P/S)7.03
P/FCF Ratio38.59
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue3.58
Enterprise Value/Gross Profit5.03
Enterprise Value/Ebitda12.95
Forecast
1Y Price Target
$57.52Price Target Upside15.37% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering23
EPS Forecast (FY)3.25
Revenue Forecast (FY)$21.21B
Boston Scientific Business Overview & Revenue Model
Company Description
Boston Scientific Corporation (BSX) operates as a global leader in medical technology, specializing in the design, manufacturing, and commercialization of innovative medical devices tailored for a diverse array of interventional medical specialtie...
How the Company Makes Money
Boston Scientific primarily makes money by selling single-use and implantable medical devices and the associated systems used in procedures performed in hospitals, ambulatory surgery centers, and specialty clinics. Its revenue is largely generated...
Boston Scientific Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: the company delivered a solid quarter with a top‑line beat, strong EPS growth (+15%), margin expansion, healthy cash generation and multiple business units growing double digits. However, management lowered near‑term expectations driven primarily by a sharp WATCHMAN market slowdown and competitive share pressure in U.S. Electrophysiology, which prompted updated guidance, margin mix headwinds and a restructuring to drive future savings. While long‑term catalysts (product launches, Penumbra and MiRus investments, and a $500M cost program) support confidence for recovery in 2028+, the near‑term outlook is tempered and uncertain.Positive Updates
Top-line Beat and Organic Growth
Consolidated revenue of $5.442B represented 7.5% reported growth vs. Q2 2025 and organic/operational revenue growth of 7.0% (in line with Q2 guidance of 5%–7%), with a ~50 bps FX tailwind.
Negative Updates
Updated Near‑Term Guidance and Revenue Pressure
Full‑year 2026 organic revenue guidance was narrowed/updated to 5%–6% (reported 5.5%–6.5%), with Q3 organic growth guided to 3%–5% and full‑year adjusted EPS guided to $3.28–$3.32 (7%–8% growth). Management signaled a more pressured second half and a challenging 2027.
Read all updates
Q2-2026 Updates
Positive
Negative
Top-line Beat and Organic Growth
Consolidated revenue of $5.442B represented 7.5% reported growth vs. Q2 2025 and organic/operational revenue growth of 7.0% (in line with Q2 guidance of 5%–7%), with a ~50 bps FX tailwind.
Read all positive updates
Company Guidance
Boston Scientific updated 2026 guidance with full‑year organic/operational revenue growth of 5%–6% (reported growth 5.5%–6.5% including an estimated ~50 bps FX tailwind), third‑quarter organic/operational growth of 3%–5%, and Q3 adjusted EPS of $0.80–$0.82; full‑year adjusted EPS is guided to $3.28–$3.32 (7%–8% growth vs. 2025) with an approximate $0.05 FX headwind, an adjusted tax rate around 11.5%, and adjusted below‑the‑line expense of about $485M. Management expects full‑year adjusted operating margin expansion of 0–25 bps (Q2 adj. operating margin was 28.4% and adj. gross margin in Q2 was 70.3%, though full‑year gross margin is expected below 2025), and reiterated Q2 results of $5.442B revenue (7.5% reported / 7.0% operational and organic), $0.86 adj. EPS (+15%), $1.29B FCF in Q2 and a ~$3.8B FCF outlook for the year. The update assumes EP will be roughly flat in H2 and WATCHMAN will decline mid‑ to high‑single digits in H2 (WATCHMAN full year now guided to flat to low‑single digits); company liquidity and capital actions include ~$539M cash, ~2.0x gross debt leverage, ~1.475B diluted shares (after a ~$2B ASR and ~40M share repurchase), a $1.5B MiRus investment, anticipated close of Penumbra in H2'26 (slightly dilutive to 2026 margins/EPS), and a restructuring targeting ~$500M run‑rate savings exiting 2029 (with over half the savings and spend realized/executed by the end of 2027).Boston Scientific Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
76
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.00B | 20.07B | 16.75B | 14.24B | 12.68B | 11.89B |
| Gross Profit | 14.94B | 13.85B | 10.27B | 8.83B | 7.71B | 7.46B |
| EBITDA | 5.80B | 5.10B | 3.94B | 3.45B | 2.74B | 2.52B |
| Net Income | 3.67B | 2.89B | 1.85B | 1.59B | 698.00M | 1.04B |
Balance Sheet | ||||||
| Total Assets | 45.22B | 43.67B | 39.40B | 35.14B | 32.47B | 32.23B |
| Cash, Cash Equivalents and Short-Term Investments | 539.00M | 2.04B | 414.00M | 865.00M | 928.00M | 1.93B |
| Total Debt | 12.62B | 12.42B | 11.15B | 9.49B | 9.28B | 9.45B |
| Total Liabilities | 20.04B | 19.20B | 17.39B | 15.61B | 14.90B | 15.61B |
| Stockholders Equity | 24.93B | 24.23B | 21.77B | 19.28B | 17.57B | 16.62B |
Cash Flow | ||||||
| Free Cash Flow | 3.63B | 3.66B | 2.65B | 1.70B | 914.00M | 1.32B |
| Operating Cash Flow | 4.53B | 4.53B | 3.44B | 2.50B | 1.53B | 1.87B |
| Investing Cash Flow | -3.56B | -2.64B | -5.69B | -2.57B | -2.01B | -1.60B |
| Financing Cash Flow | -958.00M | -395.00M | 1.81B | 5.00M | -548.00M | -95.00M |
Boston Scientific Technical Analysis
Negative
49.86
Price Trends
46.54
Negative
46.68
Negative
60.41
Negative
Market Momentum
-1.09
Positive
41.07
Neutral
23.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BSX, the sentiment is Negative. The current price of 49.86 is above the 20-day moving average (MA) of 43.50, above the 50-day MA of 46.54, and below the 200-day MA of 60.41, indicating a bearish trend. The MACD of -1.09 indicates Positive momentum. The RSI at 41.07 is Neutral, neither overbought nor oversold. The STOCH value of 23.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BSX.
Boston Scientific Risk Analysis
Boston Scientific disclosed 27 risk factors in its most recent earnings report. Boston Scientific reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Boston Scientific Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $49.12B | 48.97 | 9.69% | ― | 14.55% | 15.09% | |
77 Outperform | $113.18B | 21.63 | 10.60% | 3.23% | 9.77% | 12.28% | |
73 Outperform | $172.35B | 32.03 | 10.52% | 2.49% | 8.06% | -61.33% | |
73 Outperform | $106.38B | 28.50 | 16.36% | 1.27% | 8.48% | 27.36% | |
71 Outperform | $17.00B | 21.58 | 6.36% | 1.08% | 8.62% | 0.09% | |
66 Neutral | $61.93B | 17.23 | 14.90% | ― | 13.53% | 46.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BSX
Boston Scientific
42.73
-52.22
-55.00%
ABT
Abbott Laboratories
99.60
-28.81
-22.44%
EW
Edwards Lifesciences
85.21
12.26
16.81%
MDT
Medtronic
88.48
-4.03
-4.36%
SYK
Stryker
277.33
-83.59
-23.16%
ZBH
Zimmer Biomet Holdings
89.14
-4.94
-5.25%
Boston Scientific Corporate Events
Business Operations and StrategyExecutive/Board Changes
Boston Scientific Announces New COO and Operating Structure
Positive
Oct 7, 2026
Boston Scientific announced on Oct. 7, 2026, that longtime cardiovascular executive Joseph M. Fitzgerald will become executive vice president and chief operating officer on Jan. 1, 2027, overseeing global operations, business units and regions. Fi...
Executive/Board Changes
Boston Scientific Announces Retirement of MedSurg, Asia Pacific Chief
Neutral
Sep 23, 2026
Boston Scientific said that on September 21, 2026, Arthur C. Butcher informed the company he will retire as executive vice president and group president for MedSurg and Asia Pacific effective January 1, 2027, marking a leadership change in a major...
Business Operations and StrategyFinancial Disclosures
Boston Scientific Discloses Cyberattack Disrupting Global Operations
Negative
Aug 26, 2026
On August 25, 2026, Boston Scientific Corporation disclosed that it had identified a cybersecurity incident affecting certain information technology systems, leading to a global disruption of its operations. The company activated incident response...
Business Operations and Strategy
Boston Scientific Launches 2026 Global Restructuring Plan
Neutral
Jul 27, 2026
On July 21, 2026, Boston Scientific’s board approved a new global restructuring program, the 2026 Restructuring Plan, aimed at driving sustained cost efficiencies and supporting continued growth by realigning its structure and resources with...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.