Shares Drop 9% to Two-Year Low After Mixed WATCHMAN FLX, EKOS Trial Data
Boston Scientific shares plunged about 9% to a two-year low after mixed clinical trial outcomes for its WATCHMAN FLX and EKOS devices triggered selling pressure. Raymond James downgraded the stock to Outperform, cut its price target to $88 from $97 and trimmed 2026–27 growth forecasts for EP and Watchman segments.
1. Share Price Reaction
Boston Scientific shares fell 9.02% to a two-year low, extending the slide triggered by investor concerns over mixed trial readouts and analyst downgrades. The decline marked the biggest intraday drop in nearly two years.
2. Mixed Clinical Trial Outcomes
Trial data showed the WATCHMAN FLX device delivered superior bleeding protection compared to standard anticoagulants with similar efficacy, while EKOS catheter therapy demonstrated significant benefits in pulmonary embolism treatment. Despite these positive readouts, certain CLOSURE study results continued to draw negative attention, clouding investor sentiment.
3. Raymond James Revision
Raymond James lowered its rating to Outperform from Strong Buy, trimming its price target to $88 from $97 and reducing 2026–27 growth estimates for electrophysiology and Watchman units to 15–17% and 16%, respectively. The firm maintained a favorable long-term view, citing valuation at 18 times projected 2027 earnings versus 21 times peers.