Boston Scientific reported fourth-quarter revenues of $5.29 billion, narrowly above the consensus estimate of $5.28 billion and within its guidance range of $5.22 billion to $5.31 billion. Adjusted earnings per share came in at $0.80, topping analyst forecasts of $0.78 and the company’s own guidance of $0.77 to $0.79. On a reported basis, sales grew 15.9% year-over-year, while operational growth—excluding foreign exchange effects—reached 14.3%, driven by double-digit expansion across both the MedSurg and Cardiovascular segments. GAAP net income attributable to common stockholders rose to $672 million, or $0.45 per share, compared with $566 million, or $0.38 per share, a year earlier.

For fiscal 2026, Boston Scientific guided to net sales growth of 10.5% to 11.5% on a reported basis and 10% to 11% organically, targeting full-year revenues between $22.18 billion and $22.38 billion versus a consensus of $22.37 billion. Adjusted earnings per share are projected in a range of $3.43 to $3.49, slightly bracketing the Wall Street consensus of $3.47. First-quarter 2026 expectations call for reported net sales growth of 10.5% to 12% and organic growth of 8.5% to 10%, with adjusted EPS of $0.78 to $0.80. The outlook factors in a roughly 200-basis-point foreign exchange tailwind in the first quarter but assumes continued margin pressure from inflationary cost headwinds and increased R&D investment.

Following the guidance release, the stock experienced a high-volume liquidation event that erased months of prior gains, with a one-day decline of approximately 17.5%. Weakness in the electrophysiology business added to investor concerns: segment revenues of $890 million fell short of consensus estimates of $933 million, driven by softer U.S. demand. Additionally, the recent AXIOS stent recall—which has been linked to 167 serious injuries and three fatalities—remains an overhang as the FDA reviews the safety issue. Despite solid free cash flow projections of $4.2 billion for 2026 and a track record of 12 consecutive quarters of double-digit core sales growth, the combination of cautious guidance and product-safety risks has weighed on near-term sentiment.