Can Boston Scientific Stock Jump 30%?

For questions about this article or underlying research, email help@trefis.com.

Much of any recovery in Boston Scientific (BSX) stock rests on its businesses outside WATCHMAN and electrophysiology, which management expects to keep growing. The stock’s highest close of the past three years, $108.14 on September 8, 2025, is 143% above its latest close. When management cut its 2026 outlook in July 2026, the reduction was concentrated in those two businesses. Yet they are not the whole company. So how much of Boston Scientific is still growing?

Most Of Boston Scientific’s Business Is Still Growing

On its July 29, 2026 call, management said the business units outside electrophysiology and WATCHMAN make up roughly 75% of revenue. They are expected to grow about 6% in the second half of 2026. Management said that pace matches how those units have grown for many quarters, so the slowdown has not reached them yet.

Interventional Cardiology is the standout. The unit grew 15% in the second quarter, driven by double-digit growth in coronary therapies. As the company enters new high-growth markets over the coming years, management expects Interventional Cardiology, along with the wider Interventional Cardiology and Vascular Therapies unit it belongs to, to be its strongest growth driver. Neuromodulation grew 12% in the same quarter.

Urology is the exception. Second-quarter growth came in at 1%, falling short of management’s expectations. Management now expects full-year growth for the unit to be flat to low-single digits.

Is Boston Scientific’s Profit Holding Up As WATCHMAN Slows?

So far it is, even as WATCHMAN and electrophysiology weaken. Management said the U.S. market for WATCHMAN slowed sharply and unexpectedly. It expects global WATCHMAN sales to decline mid- to high-single digits in the second half of 2026, with electrophysiology growth remaining flat. On the same call, management said WATCHMAN is less than 10% of revenue.

In the second quarter of 2026 alone, Boston Scientific’s operating margin was 22.9%, up from 18.6% a year earlier. Over the twelve months to June 30, 2026, the margin was 21.0%, up from 18.3%. That is the highest it has been at any quarter end in the past ten years.

Management expects further gains to be harder. Improving operating margins in 2027 will be a challenge, management said, because of gross margin pressure from continued softness in WATCHMAN and electrophysiology and the initial impact of adding Penumbra, a deal management said in July it expected to close in the second half of 2026.

How Cheap Is Boston Scientific Stock?

Based on the past year’s earnings, Boston Scientific stock is cheaper than the S&P 500. It trades at 17.8 times its earnings over the past twelve months, against 23.0 for the index. But management expects limited growth in adjusted earnings per share in 2027, so the discount applies to earnings that may barely rise.

Management expects U.S. electrophysiology results to improve in the second half of 2027. That improvement is expected after the introduction of FARAWAVE Ultra, a high-density mapping and ablation catheter, and the company’s entry into the ICE market. Management described ICE as a fast-growing market of more than $1 billion where it does not yet compete. Until then, most of Boston Scientific’s growth would have to come from the rest of the company.

Management expects organic growth of 3% to 5% in the third quarter of 2026, down from 7% organic growth in the second. While management expects the businesses outside WATCHMAN and electrophysiology to keep growing at their usual pace, whether profit keeps rising is less certain. Boston Scientific’s operating margin is the number to watch when the company reports its third quarter in October 2026.

How To Act On BSX?

Not necessarily on Boston Scientific alone, if your goal is long-term wealth. Wealth is built by owning the companies that keep outperforming, the leaders of their industries, wherever they are. Here are two companies from Boston Scientific’s own industry that have beaten it. Over the five years to October 2026, Intuitive Surgical stock rose 26% and UFP Technologies stock rose 364%, while Boston Scientific stock fell 0.8%.

Finding companies like these takes comparison across industries and sectors, and that is what the Trefis High Quality (HQ) Portfolio does. It holds 30 quality companies in equal weight and, since its inception in September 2020, has returned more than 105%, ahead of a benchmark that combines the S&P 500, S&P Mid-cap and Russell 2000. See how we find the leaders.

Spot an error or want more like this? Tell us in 10 seconds.