Boston Scientific Corporation · BSX · FY2026 Q1 · Calendar Q2 2026

Boston Scientific Beats Q1 but Lowers Full-Year Guidance on EP and WATCHMAN Headwinds

Boston Scientific delivered Q1 FY2026 results that beat on both lines: 9.4% organic revenue growth and adjusted EPS of $0.80 versus $0.79 consensus. However, the stock's trajectory has been defined by the guidance reduction that accompanied those results. Management lowered full-year organic growth to 6.5%-8% and adjusted EPS to $3.34-$3.41, citing unexpected headwinds in electrophysiology, WATCHMAN, and urology. Shares initially rose approximately 9% on the earnings day but subsequently drifted about 13% lower, trading at $45.38 as of July 29, 2026, a 40% discount to the $75.45 analyst consensus target. The dislocation reflects unresolved concerns about the sustainability of EP growth amid intensifying PFA competition from Medtronic, J&J, and Abbott, WATCHMAN volume softness, urology underperformance, and integration risk from the pending Penumbra acquisition. Core growth drivers…

Reported Before market openNYSEHealthcare $68.46B market cap
90quality score

Company context

Snapshot as of publication

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 specialties across the globe. Its business is strategically organized into three principal segments: MedSurg, Rhythm and Neuro, and Cardiovascular. Within these divisions, the company provides a comprehensive portfolio of solutions addressing various gastrointestinal and pulmonary ailments, as well as urological and pelvic health concerns. This extends to advanced implantable devices for managing cardiac rhythm disorders, such as cardioverter-defibrillators, cardiac resynchronization therapy devices, and pacemakers, complemented by remote patient management systems. Furthermore, Boston Scientific offers sophisticated technologies for diagnosing and treating complex heart rate and rhythm irregularities.…

Earnings scorecard

Reported versus consensus
Reported EPS $0.80 Consensus $1
EPS surprise +1.5% Reported versus consensus
Reported revenue $5.20B Consensus $5.17B
Revenue surprise +0.6% Reported versus consensus

Earnings History

Estimate Beat Miss Match
BSX EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $0.51 Q1 '24 actual $0.56, beat Q2 '24 estimate $0.58 Q2 '24 actual $0.62, beat Q3 '24 estimate $0.59 Q3 '24 actual $0.63, beat Q2 '25 estimate $0.72 Q2 '25 actual $0.75, beat Q3 '25 estimate $0.71 Q3 '25 actual $0.75, beat Q4 '25 estimate $0.78 Q4 '25 actual $0.80, beat Q1 '26 estimate $0.79 Q1 '26 actual $0.80, beat Q2 '26 estimate $0.83 Q2 '26 actual $0.86, beat Q3 '26 estimate $0.79 Q4 '26 estimate $0.89 Q1 '27 estimate $0.81
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Analyst Consensus ?

ConsensusBuy44 ratings
Bullish3886.4%
Neutral613.6%
Bearish00.0%

Analyst 52W Price Targets

$42.98Current
$50Low
$76.67Average
$130High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 12, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
BTIG Buy BuyMaintainSep 9, 2026
TD Cowen Buy BuyMaintainAug 25, 2026
Argus Research Hold BuyDowngradeJul 31, 2026
Wells Fargo Equal Weight Equal WeightMaintainJul 30, 2026
UBS Buy BuyMaintainJul 30, 2026
Truist Securities Buy BuyMaintainJul 30, 2026
RBC Capital Outperform OutperformMaintainJul 30, 2026
Evercore ISI Group Outperform OutperformMaintainJul 30, 2026
Show 36 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $42.98. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
BTIGMarie Thibault$56$44.98 +30.3%Sep 9, 2026
RBC CapitalShagun Singh$70$44.8 +62.9%Jul 30, 2026
UBSAnalyst unavailable$67$44.9 +55.9%Jul 30, 2026
Deutsche BankPito Chickering$60$44.93 +39.6%Jul 30, 2026
Robert W. BairdAnalyst unavailable$56$46.04 +30.3%Jul 30, 2026
Canaccord GenuityAnalyst unavailable$66$46.04 +53.6%Jul 30, 2026
Wells FargoAnalyst unavailable$50$46.04 +16.3%Jul 30, 2026
Leerink PartnersAnalyst unavailable$60$46.04 +39.6%Jul 30, 2026
Raymond JamesJayson Bedford$57$46.04 +32.6%Jul 30, 2026
BTIGMarie Thibault$60$46.04 +39.6%Jul 29, 2026
See 133 more

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Market reaction

prior-close to event-session close
Stock move +9.0% Event window
SPY move +1.0% Same window
Abnormal move +8.0% Stock minus SPY
Volume 2.4× Versus trailing sessions
Subsequent drift -12.6% Up to 20 sessions
BSXSPY benchmark

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Transcript intelligence

What changed

In Q1 FY2026, BSX delivered 9.4% organic revenue growth and adjusted EPS of $0.80, a 1.5% beat over the $0.79 consensus. Revenue of $5.20B exceeded estimates by 0.6%. The most significant change was the reduction in full-year guidance: organic growth was lowered to 6.5%-8% and adjusted EPS to $3.34-$3.41, driven by unexpected softness in electrophysiology, the WATCHMAN portfolio, and urology (only 1% organic growth). Management also announced the closure of the Valencia Technologies acquisition and confirmed a $2B share repurchase plan for Q2 within the $5B total program, even as the Penumbra acquisition awaits a shareholder vote. The stock surged roughly 9% on the earnings day but has since drifted approximately 13% lower, with the shares now trading at $45.38 versus the $75.45 analyst consensus target.

Guidance delta

Full-year organic revenue growth guidance was lowered to 6.5%-8% and adjusted EPS guidance was reduced to $3.34-$3.41. The guidance cut reflects three specific headwinds: (1) unexpected deceleration in electrophysiology, partly tied to the accelerated discontinuation of the POLARx cryoablation system following safety events; (2) WATCHMAN volume trends falling below expectations; and (3) urology weakness with only 1% organic growth, prompting new product launches and commercial hiring.

Key takeaways

  • Q1 organic revenue grew 9.4% and adjusted EPS of $0.80 beat the $0.79 consensus by 1.5%.
  • Full-year guidance was lowered to 6.5%-8% organic growth and $3.34-$3.41 adjusted EPS, citing EP, WATCHMAN, and urology headwinds.
  • FARAPULSE PFA, WATCHMAN, and OPAL mapping portfolio continue to drive growth, particularly in the U.S. and APAC.
  • Urology lagged at 1% organic growth, prompting new product launches including StoneSmart and commercial hiring.
  • Valencia Technologies acquisition closed; Penumbra acquisition pending shareholder vote on May 7.
  • Company plans $2B in share repurchases in Q2 within a $5B total buyback program.

Management priorities

  • Launch third-generation FARAPULSE platform and FARAWAVE Ultra in H1 2027.
  • Initiate IDE for FANAFLEX later this year with U.S. launch planned for 2028.
  • Scale Seismic IVL for above- and below-knee applications in 2027.
  • Roll out additional urology products including StoneSmart ecosystem and insulin urethroscope.
  • Increase commercial investment for WATCHMAN and EP, and pursue further tuck-in acquisitions.
  • Execute $2B share repurchase in Q2 while maintaining the $5B overall buyback program.

Related earnings events

Healthcare

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars · 2026-07-29T14:35:15.413083+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T14:35:15.411461+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.