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 REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $4B Q4 '23 actual $4B, beat Q1 '24 estimate $4B Q1 '24 actual $4B, beat Q2 '24 estimate $4B Q2 '24 actual $4B, beat Q3 '24 estimate $4B Q3 '24 actual $4B, beat Q2 '25 estimate $5B Q2 '25 actual $5B, beat Q3 '25 estimate $5B Q3 '25 actual $5B, beat Q4 '25 estimate $5B Q4 '25 actual $5B, beat Q1 '26 estimate $5B Q1 '26 actual $5B, beat Q2 '26 estimate $5B Q2 '26 actual $5B, beat Q3 '26 estimate $5B Q4 '26 estimate $6B Q1 '27 estimate $5B
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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
Show 39 more rating actions

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
See 139 more

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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.…

Historical context

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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.