BSX · Boston Scientific Corp
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AI Brief
Q2 FY26 earnings call · Jul 29, 2026TL;DR. Boston Scientific beat Q2 expectations (organic sales +7% vs. 5-7% guide; adjusted EPS $0.86 vs. $0.82-$0.84 guide) but cut full-year 2026 guidance, citing a sharp slowdown in its U.S. Watchman market and unanticipated U.S. EP share loss, and warned of limited adjusted EPS growth in 2027 before catalysts drive a 2028 rebound.
- + Q2 organic revenue grew 7%, exceeding the high end of 5-7% guidance.
- + Q2 adjusted EPS of $0.86 grew 15% and exceeded the high end of guidance.
- + Neuromodulation sales grew 12% with double-digit growth in both pain and brain.
- + Company announced a restructuring program targeting approximately $500 million in run-rate savings exiting 2029 to support future EPS growth.
- + Completed $2 billion accelerated share repurchase, retiring approximately 40 million shares.
- − Cut full-year 2026 organic revenue growth guidance to 5-6% and adjusted EPS to $3.28-$3.32 (7-8% growth), below prior expectations.
- − Cut Q3 2026 organic revenue growth guidance to 3-5% and adjusted EPS to $0.80-$0.82.
- − U.S. Watchman market has slowed sharply; full-year 2026 global Watchman outlook cut to flat-to-low single digits with second-half 2026 expected to decline mid-to-high single digits.
- − U.S. EP share loss and PFA saturation cut second-half 2026 global EP growth to flat and full-year U.S. EP to flat-to-low single digits.
- − Company expects limited adjusted EPS growth in 2027 and WAMGR stepping down to 7-8%, with margin gains difficult.
- − Full-year 2026 adjusted gross margin now expected to be below 2025 due to unfavorable Watchman/EP mix, and adjusted operating margin expansion narrowed to only 0-25 basis points.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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Guidance & track record
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Technicals
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Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Medical Devices — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BSX
this stock
Boston Scientific Corp
|
$63.59B | -54.0% | +12.5% | 17.8 | 3.2% |
|
ABT
Abbott Laboratories
|
$174.90B | -19.4% | +5.7% | 28.1 | 1.1% |
|
MDT
Medtronic plc
|
$113.38B | -9.3% | +8.4% | 21.8 | 1.3% |
|
SYK
Stryker Corp
|
$104.47B | -20.7% | +11.2% | 28.2 | 2.0% |
|
EW
Edwards Lifesciences Corp
|
$49.74B | +3.3% | +11.5% | 49.6 | 1.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BSX | -2.3% | -9.2% | -29.9% | -9.2% | -54.0% |
| SPY | -1.2% | -0.4% | +13.1% | -0.4% | +12.1% |
| vs SPY | -1.1% | -8.8% | -42.9% | -8.8% | -66.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.