Boston Scientific Corporation · BSX · FY2026 Q2 · Calendar Q3 2026

Boston Scientific: Q2 Growth Held Up, but Guidance Fell Again

Boston Scientific delivered solid Q2 operating results, but the investment case now depends on whether strength in Interventional Cardiology, Neuromodulation, and Endoscopy can offset WATCHMAN and EP weakness. The restructuring plan, product pipeline, and strategic transactions provide possible longer-term support, while the repeated guidance reduction makes execution the central issue.

Reported Before market openNYSEHealthcare $66.77B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $0.86 Consensus $0.83
EPS surprise +3.0% Reported versus consensus
Reported revenue $5.44B Consensus $5.38B
Revenue surprise +1.2% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.0% Event window
SPY move -1.5% Same window
Abnormal move +1.5% Stock minus SPY
Volume 2.7× Versus trailing sessions
Subsequent drift +4.6% Up to 20 sessions
BSXSPY benchmark

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Transcript intelligence

What changed

The tone became more cautious as management reported another full-year outlook reduction, citing WATCHMAN and EP weakness. The company also introduced a company-wide restructuring program targeting approximately $500 million of run-rate savings by 2029 and highlighted the Penumbra acquisition, the MiRus investment, and a 2027–2028 product pipeline.

Guidance delta

Management lowered the full-year outlook again: organic revenue growth is now expected at 5%–6%, while EPS growth is expected at 7%–8%, versus the prior quarter's 6.5%–8% organic growth outlook and adjusted EPS guidance of $3.34–$3.41.

Key takeaways

  • Q2 organic sales grew 7% and adjusted EPS beat the high end of guidance.
  • Interventional Cardiology, Neuromodulation, and Endoscopy offset softer WATCHMAN, EP, Urology, and Stone Management performance.
  • A restructuring program targets approximately $500 million of run-rate savings by 2029.
  • SEISMIQ IVL, FARAPULSE Ultra, hypertension TIVUS, and other launches are planned for 2027–2028.
  • Penumbra and the MiRus TAVR relationship add strategic opportunity but also integration and execution demands.

Management priorities

  • Address weakness in WATCHMAN and electrophysiology.
  • Execute the approximately $500 million restructuring program and protect margin expansion.
  • Advance the product pipeline and R&D programs planned for 2027–2028.
  • Maintain disciplined capital allocation while pursuing Penumbra and MiRus opportunities.

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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 $0.78 Q4 '26 estimate $0.89 Q1 '27 estimate $0.80
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Analyst Consensus ?

ConsensusBuy44 ratings
Bullish3784.1%
Neutral715.9%
Bearish00.0%

Analyst 52W Price Targets

$44.62Current
$50Low
$75.61Average
$130High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.

Firm-level rating actions

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

FirmRatingPrior ratingActionDate
Oppenheimer Outperform OutperformMaintainSep 21, 2026
Citigroup Neutral BuyDowngradeSep 17, 2026
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
Canaccord Genuity Buy BuyMaintainJul 30, 2026
Mizuho Outperform OutperformMaintainJul 15, 2026
Needham Buy BuyMaintainJul 8, 2026
Stifel Buy BuyMaintainJun 25, 2026
Jefferies Buy BuyMaintainJun 24, 2026
Wolfe Research Peer Perform OutperformDowngradeMay 29, 2026
Leerink Partners Outperform OutperformMaintainMay 28, 2026
Barclays Overweight OverweightMaintainMay 28, 2026
Baird Outperform OutperformMaintainMay 19, 2026
B of A Securities Buy BuyMaintainMay 18, 2026
Goldman Sachs Buy BuyMaintainApr 23, 2026
Raymond James Outperform Strong BuyDowngradeMar 30, 2026
Morgan Stanley Overweight OverweightMaintainFeb 5, 2026
JP Morgan Overweight OverweightMaintainFeb 5, 2026
Piper Sandler Overweight OverweightMaintainFeb 3, 2025
Bernstein Outperform OutperformMaintainOct 24, 2024
Deutsche Bank Hold HoldMaintainJul 25, 2024
SVB Leerink Market Perform Market PerformMaintainApr 28, 2022
Credit Suisse Outperform OutperformMaintainJul 28, 2021
SunTrust Robinson Humphrey Buy BuyMaintainApr 23, 2020
Stephens & Co. Overweight OverweightMaintainMar 26, 2020
CFRA Strong Buy BuyUpgradeMar 9, 2020
Cowen & Co. Outperform OutperformMaintainDec 30, 2019
Argus Buy BuyMaintainOct 26, 2018
Leerink Swann Outperform OutperformMaintainApr 26, 2018
Bank of America Buy BuyMaintainApr 5, 2018
BTIG Research Buy NeutralUpgradeNov 30, 2017
BMO Capital Outperform OutperformMaintainOct 27, 2017
Stifel Nicolaus Buy BuyMaintainJul 24, 2015
JMP Securities Market Outperform Market OutperformMaintainFeb 4, 2015
Benchmark Buy HoldUpgradeOct 22, 2014
PiperJaffray Overweight NeutralUpgradeJan 21, 2014
CL King Neutral Strong BuyDowngradeSep 10, 2013
S&P Capital IQ Buy HoldUpgradeJun 28, 2013
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Named analyst price targets

Upside is calculated against the persisted current price $44.62. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
OppenheimerSuraj Kalia$65$43.34 +45.7%Sep 21, 2026
BTIGMarie Thibault$56$44.98 +25.5%Sep 9, 2026
RBC CapitalShagun Singh$70$44.8 +56.9%Jul 30, 2026
UBSAnalyst unavailable$67$44.9 +50.2%Jul 30, 2026
Deutsche BankPito Chickering$60$44.93 +34.5%Jul 30, 2026
Robert W. BairdAnalyst unavailable$56$46.04 +25.5%Jul 30, 2026
Canaccord GenuityAnalyst unavailable$66$46.04 +47.9%Jul 30, 2026
Wells FargoAnalyst unavailable$50$46.04 +12.1%Jul 30, 2026
Leerink PartnersAnalyst unavailable$60$46.04 +34.5%Jul 30, 2026
Raymond JamesJayson Bedford$57$46.04 +27.7%Jul 30, 2026
BTIGMarie Thibault$60$46.04 +34.5%Jul 29, 2026
Stifel NicolausRick Wise$60$46.54 +34.5%Jul 29, 2026
UBSAnalyst unavailable$74$45.51 +65.8%Jul 28, 2026
OppenheimerAnalyst unavailable$85$45.88 +90.5%Jul 27, 2026
Truist FinancialAnalyst unavailable$62$44.6 +39.0%Jul 16, 2026
Mizuho SecuritiesAnthony Petrone$70$42.63 +56.9%Jul 15, 2026
RBC CapitalShagun Singh$85$44.72 +90.5%Jul 13, 2026
NeedhamMike Matson$57$45.3 +27.7%Jul 8, 2026
Evercore ISIAnalyst unavailable$65$44.55 +45.7%Jul 6, 2026
Stifel NicolausAnalyst unavailable$65$44.46 +45.7%Jun 25, 2026
Piper SandlerAnalyst unavailable$65$47.17 +45.7%Jun 12, 2026
Truist FinancialAnalyst unavailable$64$49.34 +43.4%Jun 4, 2026
BTIGMarie Thibault$65$47.68 +45.7%Jun 2, 2026
Canaccord GenuityAnalyst unavailable$70$48.31 +56.9%Jun 1, 2026
Goldman SachsAnalyst unavailable$71$50.46 +59.1%May 28, 2026
Robert W. BairdAnalyst unavailable$70$50.46 +56.9%May 28, 2026
Leerink PartnersMike Kratky$74$50.46 +65.8%May 28, 2026
BarclaysAnalyst unavailable$89$50.46 +99.5%May 28, 2026
Wells FargoLarry Biegelsen$55$50.46 +23.3%May 28, 2026
Stifel NicolausRick Wise$75$51.07 +68.1%May 27, 2026
Robert W. BairdAnalyst unavailable$75$55.92 +68.1%May 19, 2026
DaiwaAnalyst unavailable$60$58.45 +34.5%Apr 29, 2026
RBC CapitalAnalyst unavailable$100$65.8 +124.1%Apr 23, 2026
OppenheimerAnalyst unavailable$90$65.72 +101.7%Apr 23, 2026
Canaccord GenuityWilliam Plovanic$71$64.87 +59.1%Apr 23, 2026
NeedhamMike Matson$77$64.87 +72.6%Apr 23, 2026
Truist FinancialAnalyst unavailable$85$64.87 +90.5%Apr 23, 2026
Robert W. BairdAnalyst unavailable$78$64.87 +74.8%Apr 23, 2026
Wells FargoAnalyst unavailable$75$64.87 +68.1%Apr 23, 2026
BarclaysMatt Miksic$96$64.87 +115.2%Apr 23, 2026
Goldman SachsDavid Roman$84$64.87 +88.3%Apr 22, 2026
JefferiesMatthew Taylor$100$64.87 +124.1%Apr 22, 2026
Stifel NicolausRick Wise$85$60.99 +90.5%Apr 21, 2026
Truist FinancialAnalyst unavailable$90$64.92 +101.7%Apr 15, 2026
Mizuho SecuritiesAnalyst unavailable$90$62.06 +101.7%Apr 13, 2026
Goldman SachsAnalyst unavailable$93$70.17 +108.4%Mar 26, 2026
Canaccord GenuityWilliam Plovanic$109$74.73 +144.3%Feb 17, 2026
BernsteinLee Hambright$112$77.46 +151.0%Feb 6, 2026
Truist FinancialAnalyst unavailable$95$77.02 +112.9%Feb 5, 2026
RBC CapitalAnalyst unavailable$115$77.16 +157.7%Feb 5, 2026
NeedhamAnalyst unavailable$97$75.52 +117.4%Feb 5, 2026
Mizuho SecuritiesAnalyst unavailable$115$75.29 +157.7%Feb 5, 2026
Evercore ISIAnalyst unavailable$96$75.64 +115.2%Feb 5, 2026
Wells FargoAnalyst unavailable$94$75.5 +110.7%Feb 5, 2026
Goldman SachsAnalyst unavailable$99$75.5 +121.9%Feb 5, 2026
Robert W. BairdAnalyst unavailable$101$75.5 +126.4%Feb 5, 2026
UBSAnalyst unavailable$120$75.5 +168.9%Feb 5, 2026
Canaccord GenuityWilliam Plovanic$112$75.5 +151.0%Feb 5, 2026
Stifel NicolausRick Wise$110$75.5 +146.5%Feb 4, 2026
BTIGAnalyst unavailable$110$75.61 +146.5%Feb 4, 2026
BarclaysAnalyst unavailable$124$91.87 +177.9%Feb 3, 2026
National BankAnalyst unavailable$115$93.13 +157.7%Feb 2, 2026
OppenheimerAnalyst unavailable$100$90.03 +124.1%Jan 16, 2026
Goldman SachsDavid Roman$112$98.38 +151.0%Jan 9, 2026
Evercore ISIAnalyst unavailable$112$95.15 +151.0%Jan 5, 2026
Truist FinancialAnalyst unavailable$120$96.56 +168.9%Dec 18, 2025
RBC CapitalAnalyst unavailable$130$92.95 +191.3%Dec 17, 2025
Canaccord GenuityWilliam Plovanic$131$92.95 +193.6%Dec 17, 2025
Truist FinancialAnalyst unavailable$130$103.52 +191.3%Oct 23, 2025
Morgan StanleyPatrick Wood$130$103.85 +191.3%Oct 23, 2025
UBSAnalyst unavailable$140$104.24 +213.8%Oct 23, 2025
Wells FargoAnalyst unavailable$125$104.24 +180.1%Oct 23, 2025
Goldman SachsAnalyst unavailable$124$103.85 +177.9%Oct 22, 2025
Evercore ISIAnalyst unavailable$110$96.7 +146.5%Oct 7, 2025
BarclaysAnalyst unavailable$136$95.85 +204.8%Oct 2, 2025
Truist FinancialRichard Newitter$129$94.15 +189.1%Oct 1, 2025
BTIGAnalyst unavailable$132$97.63 +195.8%Oct 1, 2025
Robert W. BairdAnalyst unavailable$128$97.63 +186.9%Oct 1, 2025
Canaccord GenuityAnalyst unavailable$132$97.63 +195.8%Oct 1, 2025
OppenheimerSuraj Kalia$125$108.14 +180.1%Sep 8, 2025
Raymond JamesJayson Bedford$121$103.8 +171.2%Jul 21, 2025
Leerink PartnersMike Kratky$118$101.49 +164.5%Jun 16, 2025
Truist FinancialRichard Newitter$117$100.55 +162.2%Apr 24, 2025
BTIGMarie Thibault$124$98.87 +177.9%Apr 23, 2025
Argus ResearchAnalyst unavailable$130$105.35 +191.3%Feb 18, 2025
Piper SandlerMatt O'Brien$115$103.07 +157.7%Feb 3, 2025
Evercore ISIVijay Kumar$100$89.38 +124.1%Jan 2, 2025
BTIGMarie Thibault$101$89.68 +126.4%Dec 30, 2024
RBC CapitalShagun Singh$98$87.45 +119.6%Oct 24, 2024
C.L. KingKristen Stewart$90$87.45 +101.7%Oct 24, 2024
Canaccord GenuityWilliam Plovanic$98$88.07 +119.6%Oct 21, 2024
Stifel NicolausRick Wise$100$86.42 +124.1%Oct 18, 2024
Robert W. BairdDavid Rescott$100$87.55 +124.1%Oct 15, 2024
Truist FinancialRichard Newitter$100$87.2 +124.1%Oct 14, 2024
Piper SandlerMatt O'Brien$90$84.22 +101.7%Sep 19, 2024
Deutsche BankPito Chickering$78$78.11 +74.8%Jul 25, 2024
BTIGMarie Thibault$84$77.69 +88.3%Jul 15, 2024
Canaccord GenuityWilliam Plovanic$83$76.31 +86.0%Jun 18, 2024
Robert W. BairdDavid Rescott$90$77.42 +101.7%Jun 11, 2024
Goldman SachsDavid Roman$90$74.98 +101.7%May 30, 2024
Argus ResearchJohn Eade$95$75.63 +112.9%May 28, 2024
OppenheimerSteven Lichtman$77$73.27 +72.6%Apr 25, 2024
Evercore ISIVijay Kumar$78$72.91 +74.8%Apr 25, 2024
RBC CapitalShagun Singh$82$72.91 +83.8%Apr 25, 2024
Mizuho SecuritiesAnthony Petrone$85$72.91 +90.5%Apr 25, 2024
Robert W. BairdDavid Rescott$84$72.91 +88.3%Apr 25, 2024
Truist FinancialRichard Newitter$86$72.91 +92.7%Apr 25, 2024
Wells FargoLawrence Biegelsen$82$72.91 +83.8%Apr 25, 2024
Deutsche BankPito Chickering$73$72.91 +63.6%Apr 24, 2024
BTIGMarie Thibault$80$72.91 +79.3%Apr 24, 2024
Stifel NicolausRick Wise$83$72.91 +86.0%Apr 24, 2024
BTIGMarie Thibault$74$68.07 +65.8%Apr 15, 2024
Argus ResearchJohn Eade$80$67.45 +79.3%Apr 3, 2024
Mizuho SecuritiesAnthony Petrone$80$64.82 +79.3%Feb 1, 2024
J.P. MorganAnalyst unavailable$55$47.31 +23.3%Feb 2, 2023
NeedhamAnalyst unavailable$53$47.54 +18.8%Feb 2, 2023
Morgan StanleyAnalyst unavailable$56$46.18 +25.5%Jan 6, 2023
Mizuho SecuritiesAnthony Petrone$52$46.08 +16.5%Dec 22, 2022
Truist FinancialAnalyst unavailable$54$45.64 +21.0%Dec 20, 2022
Raymond JamesAnalyst unavailable$54$45.63 +21.0%Dec 8, 2022
Raymond JamesAnalyst unavailable$48$40.83 +7.6%Jul 28, 2022
BTIGAnalyst unavailable$50$40.31 +12.1%Jul 28, 2022
Truist FinancialAnalyst unavailable$45$37.44 +0.9%Jul 20, 2022
Canaccord GenuityAnalyst unavailable$43$37.76 -3.6%Jun 29, 2022
BTIGAnalyst unavailable$45$37.1 +0.9%Jun 24, 2022
Piper SandlerMatt O’Brien$50$42.11 +12.1%Apr 30, 2022
Raymond JamesAnalyst unavailable$50$43 +12.1%Apr 28, 2022
Leerink PartnersAnalyst unavailable$48$43.06 +7.6%Apr 28, 2022
Bank of America SecuritiesTravis Steed$55$43.96 +23.3%Mar 3, 2022
Cowen & Co.Josh Jennings$50$41.44 +12.1%Feb 2, 2022
BTIGMarie Thibault$52$41.44 +16.5%Feb 2, 2022
MacquarieLuke McFarlane$51$41.28 +14.3%Dec 9, 2021
Canaccord GenuityWilliam Plovanic$51$43.24 +14.3%Oct 28, 2021
UBSBrent Dilts$118$43.24 +164.5%Oct 28, 2021
Piper SandlerMatthew O'Brien$51$43.73 +14.3%Oct 27, 2021
Credit SuisseMatt Miksic$54$45 +21.0%Sep 23, 2021
JefferiesAnthony Petrone$55$44.31 +23.3%Sep 22, 2021
Argus ResearchJohn Eade$132$45.88 +195.8%Aug 2, 2021
Wells FargoLarry Biegelsen$52.5$45.88 +17.7%Aug 1, 2021
Stifel NicolausRick Wise$50$45.51 +12.1%Jul 27, 2021
Goldman SachsAmit Hazan$50$42.74 +12.1%Jul 14, 2021
StephensChris Cooley$52$44.1 +16.5%Apr 29, 2021
OppenheimerSteven Lichtman$47$44.24 +5.3%Apr 28, 2021
CitigroupJoanne Wuensch$51$44.24 +14.3%Apr 28, 2021
Show less

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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.…

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Sources

  1. Earnings call transcript and parsed analysis · 2026-07-29T20:08:14.196827+00:00
  2. FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
  3. Polygon adjusted daily market bars · 2026-09-23T18:50:58.058567+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T18:50:58.055795+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 · As of 2026-09-23. For educational purposes only; not investment advice.