Boston Scientific Corp.: Better Now than Later; Mgmt Comments Set Appropriate Watchman Expectations Ahead of Q2 Earnings; Updating Est’s and Lowering PT from $96 to $89, Reit OW Rating with Greater Conviction

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Boston Scientific Corp.: Better Now than Later; Mgmt Comments Set Appropriate Watchman Expectations Ahead of Q2 Earnings; Updating Est’s and Lowering PT from $96 to $89, Reit OW Rating with Greater Conviction

Equity Research

U.S. Medical Supplies & Devices

27 May 2026

Boston Scientific Corp.

Better Now than Later; Mgmt

Comments Set Appropriate Company Update

BSX OVERWEIGHTWatchman Expectations Ahead of

Unchanged

U.S. Medical Supplies & POSITIVEQ2 Earnings; Updating Est’s and Devices

Price Target USD 89.00Lowering PT from $96 to $89, Reit

lowered -7% from USD 96.00

Price (26-May-26) USD 57.64OW Rating with Greater Conviction

Potential Upside/Downside +54.4%

Despite the near-term volatility after management’s Source: Bloomberg, Barclays Research

comments today, we applaud BSX for addressing the

Market Cap (USD mn) 85673

slowdown in Watchman ahead of Q2 earnings. With this Shares Outstanding (mn) 1486.36

update now discounted, we have greater conviction in BSX Free Float (%) 99.81

and expect increased investor interest in the coming weeks. 52 Wk Avg Daily Volume (mn) 11.6 Dividend Yield (%) N/A

Return on Equity TTM (%) 14.83

Current BVPS (USD) 17.40

Source: Bloomberg

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Matt Miksic

Management lowers U.S. Watchman expectations to flat sequential growth in Q2 and Q3: +1 212 526 9189

Management provided an intra-quarter update at an investor conference this morning, which matt.miksic@barclays.com

included a reduction in growth expectations for US Watchman to reflect flat sequential sales in BCI, US