When Should You Buy Boston Scientific Stock?
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Boston Scientific (BSX) stock has lost 55.3% over the past twelve months, while the S&P 500 returned 12.8%. On its October 28, 2026 call, management said its EP and WATCHMAN businesses are weighing on growth and that it expects 2027 to be the bottom of that cycle. A buyer at $45.13 a share is betting the price already allows for that. So has the price fallen far enough, or is it still too early to buy?
Boston Scientific Stock’s Sales Multiple Is Near A Ten-Year Low
At the end of September, Boston Scientific stock traded at 3.0 times its sales over the past twelve months, against 7.5 times a year earlier. That ratio was lower at only one quarter end since late 2016, in June 2026. On earnings the reading is less extreme: at 18.1 times, the stock’s P/E was lower at only 6 of the 40 quarter ends since then, and one of those was the end of 2020, when the company had a loss and its P/E was negative.
Over those twelve months, profitability held up but growth slowed. The operating margin was 21%, higher than at 38 of the 40 quarter ends. Revenue rose 8.9% over the twelve months to September, compared with 21.6% in the twelve months before. Sales grew just 1.4% in the September quarter, a pace management says a two-week cyber incident cut by about 300 basis points.
Management says two businesses are now weighing on growth. EP sales fell 5% in that quarter, and WATCHMAN sales in the U.S. fell 7%. The sales multiple sits near a ten-year low on a margin near its best, and growth is the open question.
What Are Investors Expecting From Boston Scientific?
Analysts expect fourth-quarter 2026 revenue of about $5.23 billion, falling inside the company’s own guide. Management has guided to a revenue decline of 1% to 3% from the $5.29 billion of fourth-quarter 2025 revenue. The analyst expectation would be a fall of about 1.1%, near the top of that range, so the bar is the guide itself, at its better end.
Management has also lowered its full-year 2026 guide for reported revenue growth to 4.3%, from 6.0% in July. On the October call, management said the company will be challenged to grow sales and adjusted earnings per share in 2027, excluding its pending acquisition of Penumbra. Management aims to return to high performance in 2028, the year it now expects to launch FARAWAVE Ultra, a new EP product.
The price appears to assume a weak 2027 and a recovery that waits on new products. Some other businesses are still growing: interventional cardiology sales rose 19% in the September quarter.
When Does Boston Scientific Report Again?
Boston Scientific is expected to report in February 2027, releasing results for the October to December quarter of 2026. Management also expects to close the Penumbra deal in early 2027.
After the six reports from April 2025 to July 2026, the stock moved both ways, measured from the report-day close to the close two trading days later: three gains and three falls. The largest were a 4.3% fall after the April 2026 report and a 3.0% gain after the April 2025 report.
When Boston Scientific next reports, fourth-quarter revenue against management’s guide will be the number to watch.
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