Boston Scientific Corp released forward guidance on Feb. 4 that signaled only modest growth in 2026, and the company set adjusted earnings per share guidance that landed marginally below the market consensus. The cautious outlook weighed heavily on investor sentiment, with the medical-device maker's shares slipping more than 11% in premarket trading.
The company provided adjusted earnings guidance for 2026 of $3.43 to $3.49 per share. The midpoint of that range - $3.46 - is slightly under the average analyst estimate of $3.47 per share, based on LSEG data. Management also forecast organic revenue growth of 10% to 11% for 2026, a slowdown from the 15.8% organic growth the company recorded in 2025.
Boston Scientific has been balancing its outlook while preparing to fold in Penumbra, a transaction announced last month valued at $14.5 billion. The company makes coronary stents and pacemakers, among other devices, and its guidance reflects expectations for integration and top-line deceleration.
Those forward-looking figures weighed on market reaction despite Boston Scientific posting stronger-than-expected results for the fourth quarter. The company reported adjusted earnings of $0.80 per share, exceeding a consensus estimate of $0.78. Quarterly revenue reached $5.29 billion, narrowly topping the $5.28 billion forecast.
For the first quarter of 2026, Boston Scientific set guidance for adjusted earnings of $0.78 to $0.80 per share. That range brackets the analyst consensus of $0.79 for the period.
Context and implications
- Management's 2026 EPS guidance sits just below the consensus estimate, contributing to immediate investor selling pressure.
- Projected organic revenue growth of 10% to 11% for 2026 represents a deceleration relative to 2025's 15.8% pace.
- The firm is preparing to integrate its $14.5 billion acquisition of Penumbra, announced last month, which is a key factor cited alongside the tempered outlook.
While the fourth-quarter results outperformed analyst estimates on both EPS and revenue, the forward guidance appears to have shifted market focus from quarterly execution to 2026 growth expectations and acquisition-related integration.
Bottom line
Boston Scientific's quarter delivered slightly better-than-expected earnings and revenue, but the conservative 2026 revenue and EPS outlook - together with the imminent Penumbra integration - prompted a significant premarket share decline. Investors and market participants will likely weigh near-term operational performance against the company’s integration plans and the slower organic growth trajectory the company has forecast.