Movement Alert|Boston Scientific Rises 3.16% in After-Hours Trading, Technical Rebound as Most Institutions Maintain Buy Ratings Despite Target Cuts

Market Focus08-06

On August 6, Boston Scientific rose 3.16% in after-hours trading, trading at approximately $49.27/share, with turnover of $22.47 million. The rebound followed a 3.03% decline in the prior session driven by full-year guidance cuts and multiple analyst target price reductions.

Despite lowering targets, most covering institutions maintained buy ratings. Deutsche Bank cut its target to $60 from $75, UBS to $67 from $74, and RBC to $70 from $85, all retaining buy-equivalent ratings. UBS noted the company has underappreciated growth drivers beyond its challenged Watchman and electrophysiology franchises, including coronary intravascular lithotripsy, renal denervation products expected in 2027-2028 representing a combined $2.5 billion served market, and the Empower leadless pacemaker launch in 2027. UBS argued current share pricing implies sales declines through 2029, a scenario it views as excessively pessimistic given the company's diversified pipeline.

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