Boston Scientific Corporation

What they do

Boston Scientific develops, manufactures and sells medical devices used in interventional medical specialties, reporting results in two segments: MedSurg and Cardiovascular. It sells across the U.S., EMEA, Asia-Pacific and Latin America and Canada. The company competes with large diversified device manufacturers as well as single-product and segment-focused competitors.

Revenue drivers

• Cardiovascular — The larger reportable segment by growth rate in the latest quarter, with net sales growth of 8.3 percent reported and 7.8 percent operational and organic versus the prior year period.
• MedSurg — The other reportable segment, growing 5.9 percent reported and 5.4 percent operational and organic in the second quarter of 2026 versus the prior year period.
• Electrophysiology / FARAPULSE PFA platform — FARAPULSE Pulsed Field Ablation is the subject of the AVANT GUARD and ELEVATE-PF trials and the FARAFLEX map-and-ablate catheter program, all disclosed in the second quarter 2026 earnings release.
• Interventional portfolio additions — The company received FDA 510(k) clearance for the TruSelect 2.6 Microcatheter, expanding its embolization portfolio.

Recent performance

Second quarter 2026 net sales were $5.442 billion, up 7.5 percent reported and 7.0 percent operational and organic year over year. GAAP net income attributable to common stockholders was $907 million, or $0.61 per share, versus $797 million or $0.53 a year ago, and adjusted EPS was $0.86 versus $0.75. By region, growth was 6.2 percent in the U.S., 6.1 percent reported in EMEA, 11.2 percent in APAC and 22.4 percent reported in Latin America and Canada. Full-year 2025 revenue was $20.07 billion with net income of $2.89 billion and operating cash flow of $4.53 billion.

Strategy

Management said it is focused on disciplined execution and prioritizing investments in its highest-impact opportunities, anchored by a category leadership strategy and innovation for patients and physicians. The company invested $1.5 billion in MiRus LLC for an approximately 34 percent equity stake and an exclusive option to acquire the MiRus TAVR business. It completed a previously announced $2 billion accelerated share repurchase program, repurchasing approximately 40 million shares. It advanced clinical programs in electrophysiology, including FARAPULSE, FARAFLEX and FARADIGM.

Risks

• Intense competition and rapid technology change — Boston Scientific states it faces significant competition in each market from large multi-line manufacturers, single-product device companies and non-medical device companies including pharmaceutical and biotech firms.
• Tariffs and trade policy — The 10-K cites changing trade and tariff policies among risks, and the 10-Q discusses an IEEPA tariff refund recognized in cost of products sold.
• Restructuring execution — Restructuring plans involve facility consolidations, closures and transfers of product lines between manufacturing facilities, which require duplicate lines, product validations and regulatory approvals.
• Supply chain and cybersecurity disruption — The 10-K lists manufacturing, distribution and supply chain disruptions and costs, and disruptions caused by cybersecurity events, among the risks that could materially affect results.

Outlook

Second quarter 2026 results came in at the top of the company's revenue guidance range of 5.5 to 7.5 percent reported growth and above the adjusted EPS guidance range of $0.82 to $0.84. CEO Mike Mahoney said the company remains confident in its long-term growth, citing category leadership and innovation. The filings do not provide specific full-year 2026 guidance figures in the excerpts reviewed.