On July 30, Boston Scientific fell 3.06% in regular trading, trading at $45.10/share, with turnover of $151 million. The decline extends post-earnings selling pressure as multiple investment banks simultaneously cut their price targets on the stock.

On the news front, UBS lowered its target from $74 to $67, Deutsche Bank from $75 to $60, RBC from $85 to $70, and Piper Sandler from $65 to $60, though all maintained Buy ratings. The core drag stems from the Watchman heart occluder business, where management guided for mid-to-high single-digit revenue declines in H2 and lowered full-year Watchman growth expectations to flat or low single digits. Physicians are increasingly bundling Watchman procedures with other cardiac surgeries, reducing standalone procedure volumes.

While Q2 results beat estimates with adjusted EPS of $0.86 versus $0.83 expected and net sales of $5.44 billion versus $5.36 billion expected, the company cut full-year adjusted EPS guidance to $3.28-$3.32, below the $3.36 consensus, and lowered net sales growth to 5.5%-6.5% from 7%-8.5% previously.

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