On August 5, Boston Scientific declined 3.03% in regular trading, trading at $47.605 per share, with turnover of $182 million.
The decline reflects continued pressure from the company's lowered full-year guidance and a wave of analyst target price cuts. Boston Scientific reported Q2 adjusted EPS of $0.86 beating estimates of $0.83 and revenue of $5.44 billion above expectations of $5.36 billion, but simultaneously cut full-year adjusted EPS guidance to $3.28-$3.32 versus consensus of $3.36, and reduced net sales growth expectations to 5.5%-6.5% from 7%-8.5% previously.
The guidance reduction was driven primarily by weakness in its Watchman heart occluder business, with H2 revenue expected to decline mid-to-high single digits year-over-year, alongside competitive pressures in electrophysiology from Medtronic. Argus downgraded the stock from Buy to Hold, while Deutsche Bank cut its target to $60 from $75, UBS to $67 from $74, and RBC to $70 from $85, reflecting broad institutional concern over medium-term growth prospects that has yet to be fully priced in.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments