Citigroup Downgrades Boston Scientific to Neutral From Buy, Adjusts PT to $50 From $57

Boston Scientific shares declined after Citigroup downgraded the stock to 'Neutral' from 'Buy' and lowered its price target to $50 from $57. The company's shares are currently trading at $43.20, down 1.62% on the day but up 0.61% year-to-date, according to Citigroup.

Boston Scientific (BSX) fell 2.3% after a cyberattack disrupted operations, leading to a guidance cut for Q3 and 2026. The attack caused shipping delays, not demand issues, and the company expects recovery. BSX faces competitive pressure in the electrophysiology market. Hedge fund holdings decreased slightly, with low short interest. The company's long-term outlook remains intact, but near-term visibility is weak.

Jefferies and Citi maintained Buy ratings on Boston Scientific (BSX) with price targets of $60 and $57, respectively. The company reported Q2 revenue of $5.44B and net profit of $907M, up from last year's $5.06B and $793M. Insider activity is positive, with recent purchases by directors.

Boston Scientific (BSX) shares fell 10% after CEO Mike Mahoney cited three factors for cutting FY26 guidance: slowdown in WATCHMAN business, market-share reduction in electrophysiology, and softness in urology. Stifel lowered its price target to $75. BSX is down 45% YTD.

Boston Scientific's cyberattack disrupted operations, and while most systems are restored, the company expects material financial impacts on Q3 and full-year results, likely missing sales and profit forecasts. Experts discuss the complexity of defining business recovery post-cyberattack, emphasizing the need to align IT recovery with business outcomes and prioritize critical processes.

Boston Scientific has resumed manufacturing, order fulfillment, and shipping after a cyberattack. The company expects to miss Q3 and full-year financial guidance due to the disruption. Independent assessments found no ongoing threats or system compromises.