BOSTON SCIENTIFIC (BSX) Company Report

Boston Scientific entered into a $6.0 billion Term Loan Credit Agreement dated February 26, 2026 to finance, in part, its acquisition of Penumbra, Inc.
The company also established a $3.0 billion Credit Agreement for revolving and multicurrency loans to fund working capital and general corporate needs
Additionally, Boston Scientific put in place a $2.0 billion 364-day Credit Agreement providing short-term revolving and multicurrency commitments

1 day ago

8-K

Boston Scientific appoints Cathy Smith and Christophe Weber to board

BSX

Board Change

Share Buyback

Boston Scientific’s Board increased from ten to twelve members and appointed Cathy Smith and Christophe Weber as directors, effective February 18, 2026.
Smith brings extensive expertise in finance and corporate strategy from roles at Starbucks, Nordstrom and Walmart; Weber contributes global pharmaceutical leadership as Takeda’s retiring CEO (June 2026).
Under the non-employee director compensation program, each new director will receive a prorated $24,663 cash retainer and an equity award valued at $42,420, vesting at the end of their term.
In a separate action, the Board approved raising its stock repurchase authorization by $4.0 billion, bringing the total repurchase capacity to $5.0 billion, all fully available as of February 18, 2026.

4 days ago

8-K

Boston Scientific reports Q4 and full-year 2025 results and issues 2026 guidance

BSX

Earnings

Guidance Update

Q4 2025 consolidated revenue of $5.286 billion, up 15.9% reported (14.3% operational) and 12.7% organic; Q4 adjusted EPS of $0.80, up 15%, exceeding the high end of guidance.
Full-year 2025 revenue of $20.074 billion, up 19.9% reported (19.2% operational) and 15.8% organic; full-year adjusted EPS of $3.06, up 22%, surpassing guidance.
Q4 adjusted gross margin of 70.7% and operating margin of 27.3%; full-year adjusted operating margin expanded 100 bps to 28.0%.
2026 guidance: full-year organic revenue growth of 10%-11%, adjusted EPS of $3.43–$3.49, and adjusted operating margin expansion of 50–75 bps; Q1 2026 organic growth of 8.5%–10% with adjusted EPS of $0.78–$0.80.

Feb 4, 2026, 1:00 PM

Transcript

Boston Scientific reports Q4 2025 results

BSX

Earnings

Guidance Update

Q4 2025 consolidated revenue of $5.286 bn (+15.9% y/y; 12.7% organic) and adjusted EPS of $0.80 (+15%).
Full year 2025 revenue of $20.074 bn (+19.9% y/y; 15.8% organic) and adjusted EPS of $3.06 (+22%).
Q4 adjusted gross margin 70.7%, operating margin 27.3%; FY adjusted gross margin 70.6% (+30 bps) and operating margin 28.0% (+100 bps).
2026 guidance: Q1 organic revenue growth 8.5–10% with EPS $0.78–$0.80; full-year organic growth 10–11% with EPS $3.43–$3.49.

Feb 4, 2026, 1:00 PM

Transcript

Boston Scientific reports Q4 2025 earnings

BSX

Earnings

Guidance Update

In Q4 2025, net sales rose 15.9% to $5.286 B, with 12.7% organic growth year-over-year.
Reported EPS was $0.45 (adjusted $0.80) vs. $0.38 (adj. $0.70) in Q4 2024.
Free cash flow was $1.013 B vs. $1.181 B in Q4 2024.
Segment performance: Watchman +29.4%, Electrophysiology +37.1%, Cardiovascular +18.2% Y/Y.
Q1 2026 guidance: net sales growth 10.5%–12.0% (organic 8.5%–10.0%), adj. EPS $0.78–$0.80; FY 2026: net sales +10.5%–11.5%, organic +10.0%–11.0%, adj. EPS $3.43–$3.49.

Feb 4, 2026, 1:00 PM

Presentation

Boston Scientific Reports Q4 and Full-Year 2025 Results

BSX

Earnings

Guidance Update

M&A

Q4 2025 consolidated revenue of $5.286 billion (+15.9% reported, +14.3% operational, +12.7% organic) and adjusted EPS of $0.80 (+15%); adjusted gross margin 70.7% and operating margin 27.3%.
Full-year 2025 revenue of $20.074 billion (+19.9% reported, +19.2% operational, +15.8% organic) with adjusted EPS of $3.06 (+22%); free cash flow $3.659 billion (38% growth, 80% conversion) and 28.0% operating margin (+100 bps).
2026 guidance: organic revenue growth of 10%–11%, adjusted operating margin expansion of 50–75 bps, and adjusted EPS of $3.43–3.49 (+12%–14%); Q1 2026 organic growth of 8.5%–10% with EPS of $0.78–0.80.
Business highlights: EP grew 35% in Q4 (market ~18%–20%), Watchman grew 29%, with strong Asia Pac (+15%) and MEA (+5%) performances; Urology and Endoscopy growth tempered by product discontinuations.
Capital deployment: 2026 free cash flow projected at $4.2 billion; closed Nalu Medical acquisition, pending Valencia and Penumbra deals; prioritizing strategic tuck-in M&A and share repurchases.

Feb 4, 2026, 1:00 PM

Transcript

Boston Scientific announces Q4 2025 results

BSX

Earnings

Guidance Update

Q4 net sales were $5.286 billion, up 15.9% on a reported basis and 12.7% on an organic basis year-over-year.
Q4 GAAP EPS was $0.45, versus $0.38 a year ago; adjusted EPS was $0.80, up from $0.70.
FY 2025 net sales reached $20.074 billion, up 19.9% reported and 15.8% organic; full-year GAAP EPS was $1.94, with adjusted EPS of $3.06.
2026 guidance calls for net sales growth of 10.5–11.5% reported (organic 10.0–11.0%) and adjusted EPS of $3.43–3.49; Q1 2026 growth is pegged at 10.5–12.0% reported (organic 8.5–10.0%) with adjusted EPS of $0.78–0.80.

Feb 4, 2026, 11:33 AM

8-K

Boston Scientific announces Q4 and full year 2025 results

BSX

Earnings

Guidance Update

Q4 net sales of $5.286 billion, up 15.9% reported year-over-year; GAAP net income of $672 million (EPS $0.45), adjusted EPS $0.80 per share.
Full year net sales of $20.074 billion, up 19.9% reported; GAAP net income of $2.898 billion (EPS $1.94), adjusted EPS $3.06 per share.
Full year 2026 guidance: reported net sales growth expected at 10.5–11.5%, adjusted EPS projected at $3.43–$3.49; Q1 2026 sales growth guidance 10.5–12.0%, adjusted EPS $0.78–$0.80.

Feb 4, 2026, 11:30 AM

Press Release

Boston Scientific: Cardiovascular devices market projected to reach US$157.32 billion by 2035

BSX

Global cardiovascular devices market was valued at US$74.58 billion in 2025 and is forecast to grow at a 7.70% CAGR to US$157.32 billion by 2035.
Therapeutic & surgical devices accounted for 77.5% of market revenue in 2025, driven by premium implantable technologies like CRM systems and structural heart implants.
Boston Scientific’s Farapulse pulsed field ablation system generated over US$1 billion in 2024, highlighting rapid adoption of PFA over thermal ablation.
Clinical research remains robust with 51 major cardiovascular trials between 2019–2024 enrolling 292,985 patients, signaling sustained R&D investment.
North America led the market with a 45.68% revenue share in 2025, underscoring regional dominance in device adoption.

Jan 16, 2026, 2:30 PM

Press Release

Boston Scientific announces merger agreement to acquire Penumbra

BSX

M&A

On January 14, 2026, Boston Scientific entered into a merger agreement to acquire Penumbra, Inc., with Penumbra becoming a wholly owned subsidiary at closing.
Penumbra shareholders may elect to receive 3.8721 Boston Scientific shares per Penumbra share or $374.00 in cash, with elections prorated to target 73.26% cash and 26.74% stock consideration.
Outstanding Penumbra options and RSUs will be cancelled or assumed and converted into cash and Boston Scientific stock or RSUs under specified terms, including acceleration for certain vested awards.
The merger is subject to customary closing conditions, including Penumbra stockholder approval, regulatory clearances and the effectiveness of a Form S-4 registration statement.