Boston Scientific: 2026 has been a tough year, another disappointing update

研报英文原文证据摘录

Boston Scientific: 2026 has been a tough year, another disappointing update

Deutsche Bank

Research

Rating Company Date

Buy Boston Scientific 27 May 2026

Forecast Change

North America

United States

Reuters Bloomberg Exchange Ticker Price at 27 May 2026 (USD) 50.46

BSX.N BSX US NYS BSX

Price Target 75.00

Health Care

52-week range 108.14 - 50.46

Medical Supplies & Devices

2026 has been a tough year, another

Valuation & Risks disappointing update

Pito Chickering

Portfolio Manager Summary Research Analyst

BSX shares are under pressure today after management took down Watchman +1-917-635-9954

expectations again. Essentially, on the 1Q call, BSX guided to low to mid-teens

Imron Zafar

revenue growth for US Watchman, which embedded assumptions around an Research Analyst

acceleration in standalone Watchman cases throughout 2026 as physicians +1-212-250-3676

digested the Champion data. However, today, management reported that while

Kieran Ryan

concomitant procedures continue to be an avenue for growth, standalone

Research Associate

procedures have experienced a continued decline.

+1-212-250-6879

As a result of the weakness in standalone procedures, BSX took down their US Ben Shaver

Watchman numbers for 2Q and 3Q, now guided be flat sequentially from the $462m Research Associate

+1-212-250-9926

reported in 1Q. Holding 2Q and 3Q US Watchman revenues steady at the $462m

observed in 1Q results in a 6.5% and 10.8% respective cut to consensus estimates.

Key changes

Regarding 4Q, we average the $32m and $56m reduction to 2Q and 3Q consensus

EPS (USD) 3.38 to 3.36 ↓ -0.6%

numbers, which equals $44m, and apply that cut to the Street’s 4Q US Watchman

estimate. This results in 2026 US Watchman growing 5% y/y, down from the low to Revenue (USDm) 21,691 to ↓ -0.7%

21,533