Boston Scientific (BSX) AI Stock Analysis

• Market Cap: $111.51B
• Dividend Yield: N/A
• Average Volume (3M): 17.57M
• Price to Earnings (P/E): 38.8
• Beta (1Y): 0.86
• Revenue Growth: 21.62%
• EPS Growth: 54.80%
• Country: US
• Employees: 53,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.80
• Shares Outstanding: 1,483,885,500
• 10 Day Avg. Volume: 12,890,969
• 30 Day Avg. Volume: 17,570,715
• PEG Ratio: 0.88
• Price to Book (P/B): 5.82
• Price to Sales (P/S): 7.03
• P/FCF Ratio: 38.59
• Enterprise Value/Market Cap: 1.07
• Enterprise Value/Revenue: 5.95
• Enterprise Value/Gross Profit: 8.62
• Enterprise Value/Ebitda: 24.33
• 1Y Price Target: $108.38
• Price Target Upside: 44.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 22
• EPS Forecast (FY): 3.46
• Revenue Forecast (FY): $22.27B

• Rating: 71 Outperform
• Price Target: $82.00 ▲(9.12% Upside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

Strong fundamentals and an upbeat outlook (double-digit 2026 growth guidance, margin expansion, and higher expected free cash flow) are the main positives. The score is held back by clearly bearish technicals (price below all major moving averages) and a premium valuation (P/E ~39), which increase sensitivity to any operational or competitive setbacks.

Positive Factors

Multi‑year revenue growth

Sustained, broad‑based revenue expansion reflects durable commercial traction across multiple franchises (EP, WATCHMAN, cardiovascular, IO). Multi‑year organic growth and record 2025 revenue indicate product adoption and distribution scale that support repeatable growth over the next 2–6 months and beyond.

Margin expansion & profitability

Material margin improvement shows stronger pricing, product mix and operating leverage. Higher gross and operating margins enhance reinvestment capacity into R&D and commercial programs, improve earnings resilience versus cost pressures, and support sustainable cash generation over medium term.

Strong free cash flow and improving leverage

Robust FCF and an improving leverage profile provide financial flexibility for strategic M&A, share repurchases and continued R&D spending. Higher expected FCF in 2026 and manageable leverage lower refinancing risk and support capital allocation choices that reinforce long‑term growth and shareholder returns.

Negative Factors

AXIOS product removal

A manufacturing‑driven product removal interrupts Endoscopy revenue and customer access, creating near‑term share loss risk and potential longer sales recovery timelines. Even after reopening, rebuilding medical trust, inventory and procedure cadence can meaningfully slow durable growth in the franchise.

ACURATE discontinuation impact

Discontinuation of a commercial product in EMEA reduces regional revenue and market presence, requiring product replacements or re‑entry strategies. That structural gap can depress medium‑term growth and market share in a key geography until remediation or alternative offerings scale.

Absolute debt load & cash‑timing issues

While leverage ratios improved, the sizable absolute debt balance increases exposure to higher rates and limits flexibility if growth stalls. Declining year‑over‑year FCF and OCF below net income signal working‑capital or timing headwinds that could strain cash availability for M&A or buybacks.

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 offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems. It also provides medical technologies to diagnose and treat rate and rhythm disorders of the heart comprising 3-D cardiac mapping and navigation solutions, ablation catheters, diagnostic catheters, mapping catheters, intracardiac ultrasound catheters, delivery sheaths, and other accessories; spinal cord stimulator systems for the management of chronic pain; indirect decompression systems; and deep brain stimulation systems. In addition, the company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as various peripheral vessels; and structural heart therapies. Further, it provides stents, balloon catheters, wires, and atherectomy systems to treat arterial diseases; thrombectomy and acoustic pulse thrombolysis systems, wires, and stents to treat venous diseases; and peripheral embolization devices, radioactive microspheres, ablation systems, cryotherapy ablation systems, and micro and drainage catheters to treat cancer. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.

How the Company Makes Money

Boston Scientific generates revenue primarily through the sale of its medical devices, which are used in a variety of procedures across multiple specialties. The company operates through several key segments, including Cardiovascular, Rhythm Management, MedSurg, and Neuromodulation, each contributing to its overall revenue. Major revenue streams include sales of implantable devices, surgical tools, and diagnostic equipment. Additionally, Boston Scientific benefits from strategic partnerships and collaborations with healthcare providers, hospitals, and research institutions, which enhance its distribution capabilities and expand its market reach. The company also invests in research and development to innovate and introduce new products, which serves as a significant driver of future revenue growth.

Boston Scientific Financial Statement Overview

Summary

Strong multi-year revenue growth and materially improved profitability (net margin ~14.4% in 2025) support a solid fundamental profile. Balance sheet leverage has improved (debt-to-equity down to ~0.47), but absolute debt rose to ~$11.4B. Cash generation is solid (2025 FCF ~$3.7B) yet 2025 FCF declined YoY and OCF/net income remains below 1.0, signaling some cash timing/working-capital headwinds.

Income Statement

Revenue shows a strong multi-year uptrend (from $9.9B in 2020 to $20.1B in 2025), with consistently positive growth since 2021, though 2025 growth slowed to ~3.7%. Profitability has improved materially: net margin moved from a loss in 2020 to ~14.4% in 2025, and operating profitability expanded meaningfully versus earlier years. A watch item is that 2025 EBITDA is lower than 2024 despite higher revenue, suggesting some cost/investment pressure even as EBIT and net income improved.

Balance Sheet

Leverage looks manageable for the sector: debt-to-equity improved over time (about 0.62 in 2020 to ~0.47 in 2025) while equity expanded steadily, indicating a strengthening capital base. Returns on equity also improved (negative in 2020 to ~11.9% in 2025), consistent with better earnings power. The main risk is the absolute debt load rising to ~$11.4B by 2025, which reduces flexibility if growth slows or financing costs rise.

Cash Flow

Cash generation is solid and improving: operating cash flow increased to ~$4.5B in 2025 and free cash flow to ~$3.7B. Free cash flow has generally tracked earnings well (free cash flow running at ~81% of net income in 2025), supporting earnings quality. However, free cash flow growth turned negative in 2025 (down ~3.1% YoY), and operating cash flow relative to net income remains below 1.0 (about 0.83 in 2025), implying working-capital or cash timing headwinds.

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

• Technical Analysis Sentiment: Negative
• Last Price: 75.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 75.15 is below the 20-day moving average (MA) of 80.46, below the 50-day MA of 88.83, and below the 200-day MA of 98.68, indicating a bearish trend. The MACD of -4.64 indicates Negative momentum. The RSI at 31.11 is Neutral, neither overbought nor oversold. The STOCH value of 48.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BSX.

Boston Scientific Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EW	79 Outperform	$47.82B	44.48	―	―	0.19%	65.58%
SYK	72 Outperform	$145.93B	45.81	15.08%	0.95%	10.95%	-18.32%
BSX	71 Outperform	$111.51B	38.75	12.60%	―	21.62%	54.80%
MDT	71 Outperform	$124.03B	27.50	―	2.76%	5.34%	13.15%
ABT	65 Neutral	$199.10B	31.00	13.03%	1.88%	6.37%	142.39%
ZBH	65 Neutral	$19.54B	28.03	5.60%	1.05%	5.47%	-23.03%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Boston Scientific Corporate Events

Boston Scientific Expands Board and Boosts Share Buybacks

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 effective Feb. 23, 2026. The appointments, which follow the planned 2026 retirements of directors John Sununu and Yoshiaki Fujimori, add deep finance and global pharma leadership to the board as the company pursues innovation, disciplined growth and enhanced patient care.

On the same day, the board also approved a $4 billion increase to the company’s stock repurchase authorization, raising the total program capacity to $5 billion, all of which remained available at the time of the decision. The enlarged buyback program signals continued confidence in Boston Scientific’s financial position and may bolster shareholder returns, while the new board appointments strengthen governance and strategic oversight during a period of ongoing global expansion in medical technologies.

The most recent analyst rating on (BSX) stock is a Buy with a $110.00 price target. To see the full list of analyst forecasts on Boston Scientific stock, see the BSX Stock Forecast page.

Boston Scientific announces planned board director departure

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-election at the 2026 Annual Meeting of Stockholders, though he will continue in his roles until that meeting. The company emphasized that Fujimori’s decision was not due to any disagreement with Boston Scientific, and the board, together with its Nominating and Governance Committee, will continue to assess its size and composition and consider whether adding new directors after his departure is in the best interest of the company and its stakeholders.

The most recent analyst rating on (BSX) stock is a Buy with a $100.00 price target. To see the full list of analyst forecasts on Boston Scientific stock, see the BSX Stock Forecast page.

Boston Scientific to Acquire Penumbra in Cash-Stock Merger

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 3.8721 Boston Scientific shares per Penumbra share, subject to proration that targets roughly 73% cash and 27% stock. The deal includes detailed treatment of Penumbra stock options and restricted stock units, customary closing conditions such as antitrust and other regulatory approvals, Penumbra shareholder approval, stock exchange listing of new Boston Scientific shares, and mutual covenants restricting Penumbra from soliciting competing bids except under a fiduciary out, alongside substantial reverse and standard termination fees that underscore both parties’ commitment and highlight regulatory and competitive risks for investors and other stakeholders.

The most recent analyst rating on (BSX) stock is a Buy with a $121.00 price target. To see the full list of analyst forecasts on Boston Scientific stock, see the BSX Stock Forecast page.