Boston Scientific

Boston Scientific makes medical devices that doctors use in minimally invasive procedures. Its Cardiovascular segment sells pulsed field ablation systems such as FARAPULSE for atrial fibrillation, the WATCHMAN device that lowers stroke risk, devices for coronary and peripheral arteries, and cardiac rhythm products. Its MedSurg segment sells endoscopy, urology and neuromodulation products. The company sells mainly to hospitals and clinics, and about two thirds of sales are in the United States.

Net sales were $5.14 billion in Q3 2026. It grows with new products, clinical data that widens their use, and acquisitions; it agreed to buy Penumbra, a maker of thrombectomy devices, in January 2026. From January 1, 2027, it will report three segments: Interventional Therapies, Rhythm Solutions and MedSurg.

The market no longer pays for the fast growth that Boston Scientific had in 2024 and 2025. Competitors now also sell pulsed field ablation systems, and sales in the two main U.S. growth businesses now fall. In Q3 2026, U.S. electrophysiology sales fell 8% and U.S. WATCHMAN sales fell 7%, as management said on the call, according to a press transcript.

A cybersecurity incident on August 25, 2026 also cut Q3 sales growth by about 300 basis points, and organic growth was only 1.5%. The company expects Q4 2026 sales to fall 1% to 3%. The CEO said that 2027 will be the low point of the cycle and that sales and adjusted EPS will be hard to grow in 2027 without Penumbra. For the gap to close, four things must be true.

U.S. electrophysiology and WATCHMAN sales must stop falling, with new FARAPULSE products, the next WATCHMAN device and clinical data. Customer orders lost to the cyber incident must come back. The Penumbra purchase, which the company now expects to close in early 2027, must get its remaining regulatory clearances and add growth. The 2026 restructuring plan, which targets about $500 million of yearly savings, must protect the margin.

The next evidence comes with the Q4 2026 report and the 2027 guidance in early 2027, and then with the quarterly reports of 2027. If growth returns in 2028, as management expects, the gap can close over the next four to eight quarters. The main reason it may not close is a longer loss of electrophysiology and WATCHMAN sales to competitors.

1. Oct 28, 2026Failed

   Q3 2026 earnings and updated outlook after the cyber incidentA clear recovery plan, with most lost sales expected back by early 2027 and U.S. electrophysiology growth that does not slow further, passes; a large cut to the outlook or a longer disruption fails.Outcome: U.S. electrophysiology sales fell 8%, the company cut its 2026 adjusted EPS guidance to $3.16 to $3.18, and it expects Q4 2026 sales to fall 1% to 3%.
2. Oct 28, 2026Failed

   Penumbra purchase closes in 2026FTC clearance and closing in the second half of 2026, as the company expects, pass; an FTC challenge or a delay into 2027 fails.Outcome: On October 28, 2026, the company said that it now expects the purchase to close in early 2027, after the remaining regulatory clearances.
3. Jan 28, 2027 · est.Pending

   Q4 2026 earnings and 2027 guidanceQ4 sales near the guided fall of 1% to 3% and 2027 guidance with some growth in organic sales and adjusted EPS pass; guidance of falling sales or adjusted EPS fails.
4. Q1 2027 · est.Pending

   Penumbra purchase closesClosing in early 2027 with no large required sales of businesses passes; an FTC challenge or a delay past mid-2027 fails.

Every passed and failed checkpoint across all picks

• November 2, 2026Boston Scientific said that the SIMPLAAFY trial of the WATCHMAN FLX Pro device met its primary endpoints at six months. The trial had 1,857 patients in the US. After the implant, aspirin alone and a reduced dose of an oral anticoagulant alone each were non-inferior to dual anti-platelet therapy, with less bleeding and the same ischemic stroke rate of 0.7%. These single-drug regimens are not yet approved for the device.
• October 28, 2026Boston Scientific reported Q3 2026 results. Net sales grew 1.5% to $5.138 billion, on a reported and an organic basis. Adjusted EPS was $0.73, down from $0.75. The company cut its 2026 guidance to organic sales growth of about 3.75% and adjusted EPS of $3.16 to $3.18, and it expects Q4 2026 sales to fall 1% to 3%. On the call, as a press transcript reports, management said that the cyber incident cut Q3 sales growth by about 300 basis points, that U.S. electrophysiology sales fell 8% and U.S. WATCHMAN sales fell 7%, and that it now expects the Penumbra purchase to close in early 2027. It also said that 2027 will be the low point of the cycle.
• October 7, 2026Boston Scientific promoted Joe Fitzgerald, head of the Cardiovascular group, to Chief Operating Officer from January 1, 2027. From that date, it will report three segments: Interventional Therapies, which will include Penumbra after closing, Rhythm Solutions and MedSurg.

Last earnings

October 28, 2026 (8-K on sec.gov)

Next earnings

Expected about January 28, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 2, 2026 · bsx-20260930
• 8-KEarnings releaseFiled October 28, 2026 · Press release and exhibits
• 8-KChange of directors or officers and Other company newsFiled October 7, 2026 · bsx-20261001
• 8-KChange of directors or officersFiled September 23, 2026 · bsx-20260921
• 8-KCurrent reportFiled September 8, 2026 · bsx-20260907
• 8-KOther company newsFiled August 26, 2026 · bsx-20260826
• 10-QQuarterly report for the period ended Jun 30, 2026Filed August 3, 2026 · bsx-20260630
• 8-KEarnings releaseFiled July 29, 2026 · Press release and exhibits
• 8-KExit or restructuring costsFiled July 27, 2026 · bsx-20260721
• 8-KOther company newsFiled May 18, 2026 · bsx-20260518

Every filing on SEC EDGAR (CIK 885725)

• Sales in the largest U.S. growth businesses now fall. In Q3 2026, U.S. electrophysiology sales fell 8% and U.S. WATCHMAN sales fell 7%, as management said on the call, according to a press transcript. Competitors also sell pulsed field ablation systems, and management expects 2027 to be the low point of the cycle.
• The cybersecurity incident of August 25, 2026, disrupted manufacturing and shipping. It cut Q3 2026 sales growth by about 300 basis points, and management expects a further effect of 200 to 300 basis points in Q4 2026 while customers rebuild their stock, as a press transcript of the call reports. Investigations, litigation and harm to customer relations can follow.
• The Penumbra purchase, valued at about $14.5 billion when announced, is under FTC review since a Second Request on March 16, 2026. On October 28, 2026, the company said that it now expects to close in early 2027, after the remaining regulatory clearances. Boston Scientific has $6 billion of term loans ready for the deal, so debt will rise, and a block or a longer delay is possible.
• A securities class action filed on March 5, 2026, claims that the company made misleading statements about guidance and U.S. electrophysiology growth. The case is at an early stage.

Boston Scientific funds itself with senior notes, commercial paper and bank facilities. At September 30, 2026, debt was $11.95 billion: $1.04 billion of current debt, which included $1.03 billion of commercial paper, and $10.91 billion of long-term debt. Read more

Boston Scientific does not pay a dividend.

Source: company filings and market data, read on November 13, 2026.