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Boston Scientific's Watchman Slowdown Raises Utilization Questions, Oppenheimer Says

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Boston Scientific (BSX) guidance cut was driven by weakness in its Watchman and electrophysiology or EP businesses, with the gap versus initial long-range targets widening into 2027, Oppenheimer said in a note Thursday.

US Watchman growth is slowing sharply, and it's unclear whether this reflects fewer implanting physicians or lower utilization, the note said, with no recovery assumed for 2027 and competitive share erosion expected to rise.

EP revenue beat consensus, though Oppenheimer questioned whether new products are differentiated enough to offset competition.

Intravascular lithotripsy was cited as a key growth driver ahead, while the core portfolio, led by Urology and CRM, is expected to stay stable.

Oppenheimer rated the stock outperform, with the price target of $85.

Price: $45.26, Change: $-0.78, Percent Change: -1.71%

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