Boston Scientific (BSX)
NYSE:BSX
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Boston Scientific
(NYSE:BSX)
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Rating:68Neutral
Price Target:
$69.00
▲(10.24% Upside)
Action:DowngradedDate:03/31/26
BSX scores well on fundamentals and forward outlook: strong multi-year financial improvement and upbeat 2026 guidance (growth, EPS, margins, and FCF) are the main positives. The overall score is held back by weak technical trend signals and a premium valuation (high P/E), with corporate actions adding upside (clinical data, buybacks) but also execution/leverage risk tied to acquisitions.
Positive Factors
Multi-year Revenue & Margin Recovery
Boston Scientific’s revenue roughly doubled over five years while net margin recovered to ~14.4% in 2025. This sustained top-line expansion and margin improvement provide durable operating leverage, stronger internal funding for R&D/M&A, and more resilient earnings power over the next 2–6 months.
Negative Factors
Meaningful Absolute Debt Load
Gross debt near $11.4B, even with improved debt-to-equity, creates notable nominal leverage. High absolute debt raises interest-rate and refinancing sensitivity, constrains near-term capital allocation flexibility, and reduces shock-absorption if cash flow weakens or planned M&A stretches balance-sheet capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue & Margin Recovery
Boston Scientific’s revenue roughly doubled over five years while net margin recovered to ~14.4% in 2025. This sustained top-line expansion and margin improvement provide durable operating leverage, stronger internal funding for R&D/M&A, and more resilient earnings power over the next 2–6 months.
Read all positive factors
Boston Scientific (BSX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$93.02B
Dividend YieldN/A
Average Volume (3M)14.91M
Price to Earnings (P/E)48.9
Beta (1Y)0.79
Revenue Growth21.62%
EPS Growth54.80%
CountryUS
Employees53,000
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.80
Shares Outstanding1,486,175,200
10 Day Avg. Volume18,792,312
30 Day Avg. Volume14,906,588
Financial Highlights & Ratios
PEG Ratio0.88
Price to Book (P/B)5.82
Price to Sales (P/S)7.03
P/FCF Ratio38.59
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue5.09
Enterprise Value/Gross Profit7.38
Enterprise Value/Ebitda20.82
Forecast
1Y Price Target
$102.91Price Target Upside64.42% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering25
EPS Forecast (FY)3.46
Revenue Forecast (FY)$22.25B
Boston Scientific Business Overview & Revenue Model
Company Description
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offer...
How the Company Makes Money
Boston Scientific primarily makes money by selling single-use and implantable medical devices and related accessories to healthcare providers and purchasing organizations. Revenue is largely generated when hospitals and clinics purchase consumable...
Boston Scientific Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyBoston Scientific Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 22, 2026
Earnings Call Sentiment Positive
The call emphasized materially strong financial performance in 2025 (record revenues >$20B, double-digit organic growth, EPS and margin expansion, and robust free cash flow) with multiple high-growth franchises (EP, WATCHMAN, IO, cardiovascular) and confident 2026 guidance and long-range targets. Challenges were acknowledged — AXIOS product removal affecting Endo H1, ACURATE discontinuation impacting EMEA and Q1, underperformance in urology, a meaningful GAAP litigation charge, and competitive share dynamics in EP — but management provided mitigation paths and timing for resolution (midyear fixes, product launches, tuck-in M&A). Overall, positives (broad-based growth, margin and cash-flow improvement, strong clinical catalysts and strategic deals) significantly outweigh the manageable operational and one-time headwinds.Positive Updates
Record Full-Year Revenue and Strong Organic Growth
Full-year 2025 revenue of $20.74 billion (reported growth +19.9% vs. 2024). Operational revenue for the year grew 19.2% and organic revenue grew 15.8%, exceeding guidance (~15.5%). Q4 2025 operational revenue grew 14.3% and organic revenue grew 12.7% (Q4 reported revenue $5.286 billion, +15.9% reported).
Negative Updates
AXIOS Product Removal Impacting Endoscopy
In December management initiated a product removal for certain sizes of AXIOS due to a manufacturing variation. Company expects lower Endo growth in the first half of 2026 and plans to bring devices back to market in full by midyear.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Full-Year Revenue and Strong Organic Growth
Full-year 2025 revenue of $20.74 billion (reported growth +19.9% vs. 2024). Operational revenue for the year grew 19.2% and organic revenue grew 15.8%, exceeding guidance (~15.5%). Q4 2025 operational revenue grew 14.3% and organic revenue grew 12.7% (Q4 reported revenue $5.286 billion, +15.9% reported).
Read all positive updates
Company Guidance
Boston Scientific guided 2026 to first‑quarter reported revenue growth of 10.5%–12% (operational/organic 8.5%–10% after an ~200 bps FX tailwind) with Q1 adjusted EPS of $0.78–$0.80 and an adjusted tax rate around 12%; Q1 results also reflect an approximate 150 bps headwind from the ACURATE discontinuation and a transient AXIOS impact. For the full year the company expects reported revenue growth of 10.5%–11.5% (operational/organic 10%–11% excluding an ~50 bps FX tailwind), adjusted EPS of $3.43–$3.49 (up 12%–14% vs. 2025 and including an ~$0.03 FX headwind), full‑year adjusted tax rate ~12.5%, adjusted below‑the‑line expense ~ $440M, and adjusted operating margin expansion of 50–75 bps (with adjusted gross margin roughly in line with 2025’s ~70.6%). They also forecast ~ $4.2B of 2026 free cash flow (targeting 70%–80% FCF conversion over the LRP), while 2025 metrics included $3.659B FCF (38% growth, 80% conversion), cash of $1.96B and gross debt leverage of 1.9x; guidance excludes the announced Valencia and Penumbra transactions.Boston Scientific Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
76
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 20.07B | 16.75B | 14.24B | 12.68B | 11.89B |
| Gross Profit | 13.85B | 10.27B | 8.83B | 7.71B | 7.46B |
| EBITDA | 3.73B | 3.94B | 3.45B | 2.74B | 2.52B |
| Net Income | 2.89B | 1.85B | 1.59B | 698.00M | 1.04B |
Balance Sheet | |||||
| Total Assets | 43.67B | 39.40B | 35.14B | 32.47B | 32.23B |
| Cash, Cash Equivalents and Short-Term Investments | 2.04B | 414.00M | 865.00M | 928.00M | 1.93B |
| Total Debt | 12.42B | 11.15B | 9.49B | 9.28B | 9.45B |
| Total Liabilities | 19.20B | 17.39B | 15.61B | 14.90B | 15.61B |
| Stockholders Equity | 24.23B | 21.77B | 19.28B | 17.57B | 16.62B |
Cash Flow | |||||
| Free Cash Flow | 3.66B | 2.65B | 1.70B | 914.00M | 1.32B |
| Operating Cash Flow | 4.53B | 3.44B | 2.50B | 1.53B | 1.87B |
| Investing Cash Flow | -2.64B | -5.69B | -2.57B | -2.01B | -1.60B |
| Financing Cash Flow | -395.00M | 1.81B | 5.00M | -548.00M | -95.00M |
Boston Scientific Technical Analysis
Negative
62.59
Price Trends
74.97
Negative
85.76
Negative
94.01
Negative
Market Momentum
-3.40
Positive
27.55
Positive
12.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BSX, the sentiment is Negative. The current price of 62.59 is below the 20-day moving average (MA) of 68.04, below the 50-day MA of 74.97, and below the 200-day MA of 94.01, indicating a bearish trend. The MACD of -3.40 indicates Positive momentum. The RSI at 27.55 is Positive, neither overbought nor oversold. The STOCH value of 12.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BSX.
Boston Scientific Risk Analysis
Boston Scientific disclosed 27 risk factors in its most recent earnings report. Boston Scientific reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Boston Scientific Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $47.16B | 46.44 | 10.39% | ― | 0.19% | 65.58% | |
68 Neutral | $93.02B | 48.91 | 12.53% | ― | 21.62% | 54.80% | |
67 Neutral | $110.77B | 28.29 | 9.54% | 2.76% | 5.34% | 13.15% | |
66 Neutral | $127.17B | 41.38 | 15.04% | 0.95% | 10.95% | -18.32% | |
65 Neutral | $17.80B | 25.25 | 5.60% | 1.05% | 5.47% | -23.03% | |
62 Neutral | $178.17B | 33.55 | 12.89% | 1.88% | 6.37% | 142.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BSX
Boston Scientific
62.59
-28.05
-30.95%
ABT
Abbott Laboratories
102.30
-19.37
-15.92%
EW
Edwards Lifesciences
81.19
14.12
21.05%
MDT
Medtronic
86.28
6.92
8.72%
SYK
Stryker
332.30
-1.85
-0.55%
ZBH
Zimmer Biomet Holdings
91.00
-10.73
-10.54%
Boston Scientific Corporate Events
Business Operations and StrategyProduct-Related Announcements
Boston Scientific Reports Strong HI-PEITHO Trial Results for EKOS
Positive
Mar 30, 2026
On March 28, 2026, Boston Scientific announced positive results from the HI-PEITHO global randomized clinical trial showing that its EKOS Endovascular System, when used with anticoagulation, was superior to anticoagulation alone in treating patien...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Boston Scientific Secures New Credit Facilities for Acquisition
Positive
Feb 26, 2026
On February 26, 2026, Boston Scientific entered into a new $3 billion five-year revolving credit facility maturing in 2031, replacing its 2021 revolver and setting leverage covenants that allow higher temporary gearing following large acquisitions...
Business Operations and StrategyExecutive/Board ChangesStock Buyback
Boston Scientific Expands Board and Boosts Share Buybacks
Positive
Feb 23, 2026
Boston Scientific said its board on Feb. 18, 2026, expanded from 10 to 12 members and elected Starbucks chief financial officer Cathy Smith and Takeda Pharmaceutical chief executive Christophe Weber as directors, with committee assignments effecti...
Executive/Board Changes
Boston Scientific announces planned board director departure
Neutral
Feb 5, 2026
On February 2, 2026, Boston Scientific announced that long-serving director Yoshiaki Fujimori, who joined the board in July 2016 and currently chairs the Risk, Science and Technology Committee, has informed the company he will not stand for re-ele...
M&A Transactions
Boston Scientific to Acquire Penumbra in Cash-Stock Merger
Positive
Jan 15, 2026
On January 14, 2026, Boston Scientific entered into a definitive agreement to acquire Penumbra, Inc. via a merger in which Penumbra will become a wholly owned subsidiary, with Penumbra shareholders able to elect either cash of $374 per share or 3....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.