TD Cowen Cuts Boston Scientific (NYSE:BSX) Price Target to $56.00

Key Points

• TD Cowen cut Boston Scientific’s price target to $56 from $61 while maintaining a “buy” rating, implying 23.75% upside from the stock’s previous close. The broader analyst consensus remains “Moderate Buy,” with a $71.96 average price target.
• Boston Scientific exceeded second-quarter expectations, reporting adjusted EPS of $0.86 versus $0.83 expected and revenue of $5.44 billion, up 7.5% year over year. However, the company reduced full-year adjusted EPS guidance to $3.28–$3.32 and issued third-quarter forecasts below consensus.
• Watchman and electrophysiology weakness, restructuring costs and a product recall are weighing on the outlook and prompting analysts to lower valuation targets. The company also authorized a $5 billion share-buyback program covering up to 6.4% of outstanding shares.

Boston Scientific (NYSE:BSX - Get Free Report) had its price target cut by investment analysts at TD Cowen from $61.00 to $56.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. TD Cowen's price target would indicate a potential upside of 23.75% from the stock's previous close.

BSX has been the subject of a number of other reports. Daiwa Securities Group lowered shares of Boston Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 29th. Royal Bank Of Canada dropped their target price on Boston Scientific from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Zacks Research lowered Boston Scientific from a "hold" rating to a "strong sell" rating in a research note on Friday, June 5th. Jefferies Financial Group lowered their price target on Boston Scientific from $100.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Finally, Stifel Nicolaus set a $60.00 price objective on Boston Scientific in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.96.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.79 on Thursday, hitting $45.25. The company's stock had a trading volume of 7,383,895 shares, compared to its average volume of 18,244,801. The company has a market capitalization of $67.26 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 0.88 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. Boston Scientific has a 12 month low of $42.20 and a 12 month high of $109.50. The stock's 50-day moving average is $46.57 and its two-hundred day moving average is $62.73.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.37 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. Boston Scientific has set its Q3 2026 guidance at 0.800-0.820 EPS and its FY 2026 guidance at 3.280-3.320 EPS. On average, equities research analysts forecast that Boston Scientific will post 3.35 EPS for the current year.

Boston Scientific declared that its board has authorized a stock buyback plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Edward J. Ludwig purchased 3,580 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the transaction, the director directly owned 25,359 shares of the company's stock, valued at $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David C. Habiger purchased 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director owned 13,878 shares of the company's stock, valued at $776,057.76. This trade represents a 19.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 9,800 shares of company stock worth $554,012 in the last 90 days. Company insiders own 0.34% of the company's stock.

Institutional Trading of Boston Scientific

A number of institutional investors have recently bought and sold shares of the company. FWL Investment Management LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth about $26,000. Swiss RE Ltd. acquired a new position in Boston Scientific in the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC bought a new position in Boston Scientific during the fourth quarter valued at approximately $26,000. Bangor Savings Bank lifted its stake in Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 142 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Boston Scientific in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Key Boston Scientific News

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Q2 results exceeded expectations: Boston Scientific reported adjusted EPS of $0.86 versus the $0.83 consensus estimate, while revenue rose 7.5% year over year to $5.442 billion, above the $5.37 billion forecast. Cardiovascular sales increased 8.3%, with particularly strong growth in APAC and LACA. Boston Scientific announces results for second quarter 2026
• Positive Sentiment: Growth and cost initiatives remain longer-term catalysts: Management highlighted broad portfolio growth, new product launches, cost savings from its restructuring program, FDA clearance for the TruSelect 2.6 Microcatheter, and the company’s investment in MiRus and its transcatheter aortic valve replacement business. The restructuring targets approximately $500 million in annual savings, although it may cost $700 million to $800 million through 2029. Boston Scientific Q2 earnings call highlights
• Neutral Sentiment: Sales outlook was raised, but profit expectations were reduced: Boston Scientific now expects full-year reported sales growth of approximately 5.5% to 6.5%, but cut adjusted EPS guidance to $3.28-$3.32 from $3.34-$3.41. Third-quarter EPS guidance of $0.80-$0.82 and revenue guidance of $5.2-$5.3 billion also trail consensus estimates of $0.84 and $5.4 billion, respectively. Boston Scientific trims annual profit forecast
• Negative Sentiment: Watchman and EP weakness is resetting expectations: Softer demand for the Watchman device, competitive pressure and weaker trends in EP are forcing management to take a more cautious view of growth. Analysts have responded by cutting valuation targets, including UBS’s reduction to $74 from $95, BTIG’s reduction to $60 from $65, and a fair-value cut to $72.25 from $75. BSX Q2 earnings call highlights WATCHMAN and EP pressure
• Negative Sentiment: Restructuring and recall add execution risk: The multi-year restructuring will involve headcount reductions and significant upfront costs, while a recall of the Rapid Refill Continuous Injection System creates an additional operational and reputational concern. Boston Scientific expects headcount reductions

About Boston Scientific

Boston Scientific Corporation NYSE: BSX is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific's activities span product development, clinical research, regulatory affairs and commercial sales.

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