The stock of Boston Scientific (BSX) is up 10% on April 22 after the medical device maker issued financial results that topped Wall Street’s forecasts.
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The U.S. MedTech company reported earnings per share (EPS) of $0.80 on $5.2 billion in first-quarter revenue. Those numbers were ahead of the $0.79 a share in profit and sales of $5.17 billion that were the consensus expectation among analysts who track the company’s progress.
However, despite the top- and bottom-line beats, Boston Scientific lowered its sales outlook for the remainder of this year. The company now forecasts 7% to 8.5% sales growth, down from its previous outlook of 10.5% to 11.5% growth.
Boston Scientific’s Diminished Outlook
Boston Scientific’s management team also said that they expect to earn $3.34 to $3.41 per share for the rest of 2026, lowering its view from $3.43 to $3.49 a share previously. Wall Street had earnings of $3.45 per share and $22.24 billion in sales penciled in for the company.
While it might seem odd that BSX stock is rising after its guidance was cut, analysts say that Wall Street had been looking for the company to reset its guidance and better manage expectations moving forward. The revised guidance also comes as Boston Scientific acquires Penumbra (PEN), a maker of cardiovascular devices, for $14.5 billion.
Is BSX Stock a Buy?
Boston Scientific’s stock has a consensus Strong Buy rating among 24 Wall Street analysts. That rating is based on 23 Buy and one Hold recommendation issued in the last three months. The average BSX price target of $99.19 implies 52% upside from current levels. These ratings could change after the company’s financial results.
