Boston Scientific Earnings Rise, Stock Slides on Outlook
Boston Scientific earnings showed Q4 sales growth but modest 2026 guidance and an EP sales miss sent shares down >11% premarket and raised growth concerns.
KEY TAKEAWAYS
- Q4 net sales were $5.286 billion, a 15.9% reported increase.
- FY 2025 net sales reached $20.074 billion, up 19.9% reported.
- Shares fell more than 11% at the time of reporting after modest guidance and an EP sales miss.
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Boston Scientific reported stronger fourth-quarter sales on Feb. 4, 2026, but shares fell more than 11% premarket after management issued modest 2026 guidance and reported a softer-than-expected electrophysiology performance.
Fourth-Quarter Results and Business Segments
The company said in a press release on Feb. 4, 2026, that it generated net sales of $5.286 billion during the fourth quarter of 2025. This represented 15.9% reported growth, 14.3% operational growth, and 12.7% organic growth year over year, all within the company’s guidance ranges.
For the full year 2025, Boston Scientific reported net sales of $20.074 billion, a 19.9% increase on a reported basis compared with 2024.
By segment, cardiovascular net sales totaled $3.477 billion in the quarter, rising 18.2% reported and 16.1% organic. MedSurg sales reached $1.809 billion, up 11.7% reported and 6.5% organic. The company also reported Watchman device sales of $535 million for the quarter.
Geographically, sales increased across all regions, including the U.S., Europe, Middle East and Africa (EMEA), Asia-Pacific (APAC), Latin America and the Caribbean (LACA), and Emerging Markets. The company discontinued the ACURATE neo2/Prime aortic-valve systems in the second quarter of 2025; those devices had generated about $50 million in quarterly global sales.
2026 Guidance and Electrophysiology Sales Miss
Boston Scientific set full-year 2026 net sales growth guidance of 10.5% to 11.5% reported and 10.0% to 11.0% organic. For the first quarter, it projected reported sales growth of 10.5% to 12.0% and organic growth of 8.5% to 10.0%. Adjusted earnings per share (EPS) guidance was $3.43 to $3.49 for the full year and $0.78 to $0.80 for the first quarter.
Electrophysiology (EP) sales drew particular investor attention. Global EP net sales reached $890 million in the quarter, up about 37% year over year, with U.S. EP sales at $606 million, a 31% increase. Despite strong growth, these figures fell short of consensus estimates near $933 million and Stifel’s $903 million forecast.
The combination of the modest 2026 guidance and the EP sales shortfall intensified investor scrutiny of near-term growth prospects, contributing to the premarket decline in Boston Scientific’s shares.
The company also highlighted recent regulatory and commercial developments, including U.S. Food and Drug Administration approval and CE marking for a focal pulsed-field ablation catheter, the U.S. launch of an intravascular lithotripsy system for complex calcified peripheral artery disease, and expanded reimbursement for endobariatrics and pain-management products such as the Intracept procedure and a new Intracept stylet.
