Boston Scientific Sees 16% Weekly Drop, TD Cowen Cuts Target to $61
BSX•Boston Scientific shares dropped 16% last week to a one-year low after management flagged weaker Watchman device revenue extending through the next two quarters. TD Cowen cut its price target to $61 while Wolfe Research downgraded its rating to Peer Perform over slower long-term growth prospects.
1. Share Price Decline and Watchman Outlook
Boston Scientific shares tumbled 16% this past week to a one-year low after management warned that U.S. Watchman device revenue could remain soft over the next two quarters, raising concerns about near-term growth momentum.
2. Wolfe Research Downgrade
Wolfe Research downgraded the stock from Outperform to Peer Perform, citing revised financial projections that incorporate weaker Watchman franchise sales and a slower ramp in device adoption.
3. TD Cowen Price Target Reduction
TD Cowen lowered its price target from $80 to $61 while maintaining a Buy rating, forecasting roughly 7% organic revenue growth in 2027 and valuing the shares in the low-$50 range.
