Management Call Underscores Favorable Long-Term Positioning For EP And Watchman

研报英文原文证据摘录

Management Call Underscores Favorable Long-Term Positioning For EP And Watchman

Medical Supplies & Devices: Cardiovascular

Boston Scientific

TD SECURITIES (USA) LLC COMPANY UPDATE

June 22, 2026

Price: $45.29 (06/18/2026) Management Call Underscores Favorable

Price Target: $61.00 Long-Term Positioning For EP And Watchman

BUY (1)

ESG SCORE: 58/100

Joshua Jennings, M.D. THE TD COWEN INSIGHT

646 562 1333

We reiterate our Buy rating after last week's call with BSX. BSX again acknowledged the

joshua.jennings@tdsecurities.com

headwinds in EP and Watchman that contributed to recent guidance cuts but stressed the

Colin Clark favorable long-term positioning it has in both franchises thanks to continuing innovation and

646 562 1441 growth in concomitant cases. The call made us even more confident that BSX can achieve the

colin.clark@tdsecurities.com

low end of its guidance for Q2 and 2026.

John Rusch, CFA

646 562 1324 BSX Conveyed a Consistent Message and Had No Negative Surprises on Our Call Last Week

john.rusch@tdsecurities.com

On Thursday, we hosted a virtual meeting with three members of BSX's leadership team: Dr.

Key Data Ken Stein, SVP and global chief medical officer; Nick Spadea-Anello, SVP and president of

Symbol NYSE: BSX

EP; and Lauren Tengler, VP investor relations. The call primarily focused on the company's

Beta: 0.56 two highest-profile growth drivers, the EP business and Watchman. BSX was once again

52-Week Range: $108.14-$44.95 frank about the challenges it has encountered in both areas year to date and walked us

Market Cap: $67.3B through the factors that contributed to its guidance adjustments in April and May. However,

Net Debt (MM): $9,505.0 throughout our discussion, the company made a compelling case for the favorable longer-