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Sentiment · FY2026 Q2
On July 21, 2026, the Boston Scientific board approved a 2026 global restructuring program covering supply chain optimization, production line transfers between facilities, functional transformation and organizational changes. Activities begin in 2026 and should be substantially complete by the end of 2029. Estimated pre-tax charges are $700 million to $800 million, of which $600 million to $700 million is cash, against roughly $500 million of gross annual expense reduction.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $4.56B | +22.4% | $0.38 | +11.3% | 58.6% | 12.9% | 12.4% | $1.16B |
| FY2025 Q1 | $4.66B | +20.9% | $0.45 | +35.1% | 63.3% | 19.2% | 14.5% | $354M |
| FY2025 Q2 | $5.06B | +22.8% | $0.53 | +142.8% | 67.7% | 16.2% | 15.7% | $1.10B |
| FY2025 Q3 | $5.07B | +20.3% | $0.50 | +58.6% | 69.9% | 20.7% | 14.9% | $1.16B |
| FY2025 Q4 | $5.29B | +15.9% | $0.45 | +18.5% | 74.5% | 22.8% | 12.6% | $1.01B |
| FY2026 Q1 | $5.20B | +11.6% | $0.90 | +99.4% | 69.4% | 20.6% | 25.7% | $171M |
| FY2026 Q2 | $5.44B | +7.5% | $0.61 | +15.1% | 70.7% | 21.6% | 16.7% | — |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Boston Scientific's Q1 FY2026 saw full-year guidance lowered on three business headwinds: WATCHMAN growth decelerating from practice pattern shifts, EP competitive pressure from three large PFA entrants, and urology commercial disruption. Revenue grew 11.6% with 9.4% organic, but organic growth guidance was cut to 6.5-8% and EPS to $3.34-$3.41. The CHAMPION trial validated WATCHMAN clinical evidence, and a robust 2027 pipeline featured three major PFA launches.
Revenue Growth | Product Launch | Competitive Dynamics | Demand | Innovation & R&D | Regulation Policy | Guidance Reliability | M&A | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 6 | 4 | 1 | 2 | 2 | 2 | 2 |
| 2025Q1 | 2 | 3 | 2 | 2 | 1 | 2 | 2 | |
| 2025Q2 | 4 | 2 | 3 | 4 | 2 | 4 | 1 | 1 |
| 2025Q3 | 4 | 4 | 2 | 4 | 2 | 1 | 2 | 1 |
| 2025Q4 | 6 | 4 | 5 | 3 | 4 | 1 | 1 | |
| 2026Q1 | 6 | 1 | 3 | 3 | 3 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4 | 2 | 4 | 4 | 6 | 6 |
| Product Launch | 6 | 3 | 2 | 4 | 4 | 1 |
| Competitive Dynamics | 4 | 2 | 3 | 2 | 5 | 3 |
| Demand | 1 | 2 | 4 | 4 | 3 | 3 |
| Innovation & R&D | 2 | 1 | 2 | 2 | 4 | |
| Regulation Policy | 2 | 2 | 4 | 1 | ||
| Guidance Reliability | 2 | 1 | 2 | 1 | 3 | |
| M&A | 2 | 2 | 1 | 1 | 1 | 2 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Travis Steed | Bank of America | 8 (13%) |
| Robbie Marcus | JPMorgan | 8 (25%) |
| David Roman | Goldman Sachs | 7 (0%) |
| Joanne Wuensch | Citigroup | 7 (0%) |
| Mike Polark | Wolfe Research | 6 (17%) |
| Larry Biegelsen | Wells Fargo | 6 (33%) |
| Danielle Antalffy | UBS | 5 (0%) |
| Josh Jennings | TD Cowen | 5 (0%) |
| Frederick Wise | Stifel | 5 (40%) |
| Patrick Wood | UBS | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 2 | 9 (0%) |
| Bank of America | 1 | 8 (13%) |
| JPMorgan | 1 | 8 (25%) |
| Stifel | 2 |
| Citigroup | 1 | 7 (0%) |
| Wells Fargo | 2 | 7 (29%) |
| Goldman Sachs | 1 | 7 (0%) |
| Wolfe Research | 1 | 6 (17%) |
What BSX and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Medtronic continues to be a solid competitor, J&J is enhancing their footprint in PFA and Abbott is early stages of launch in the U.S.”
BSX flags Abbott as an early-stage U.S. entrant in PFA, adding to the four-player competitive set pressuring BSX's EP outlook.
“Medtronic continues to be a solid competitor, J&J is enhancing their footprint in PFA and Abbott is early stages of launch in the U.S.”
BSX notes Johnson & Johnson is enhancing its PFA footprint, a competitive pressure contributing to greater-than-expected EP share erosion.
“Medtronic continues to be a solid competitor, J&J is enhancing their footprint in PFA and Abbott is early stages of launch in the U.S.”
BSX frames Medtronic as a persistent competitor in the PFA (pulsed field ablation) market, part of intensifying competitive dynamics BSX cited for lowering EP guidance.
“we expect our announced acquisition of Penumbra to close in the second half of 2026.”
Boston Scientific's pending ~$15B acquisition of Penumbra, expected to close 2H26 subject to a May shareholder vote, adds a differentiated interventional/vascular portfolio.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BSX Boston Scientific | 6 | +11.6% | |
| ABT Abbott Laboratories | 6 | +7.8% | |
| ALGN Align Technology | 6 | +6.2% | |
| DXCM DexCom | 9 | +15.1% | |
| EW Edwards Lifesciences | 9 | +16.7% | |
| MDT Medtronic | 7 | +8.8% | |
| PODD Insulet Corporation | 8 | +33.9% | |
| STE Steris | 7 | +7.3% | |
| SYK Stryker Corporation | 4 | +2.6% | |
| ZBH Zimmer Biomet | 9 | +9.3% |