BofA Cuts Boston Scientific Price Target to $68, Bsx Stock Slides

BofA cut its price target on bsx stock to $68 from $105 on May 18 and kept a Buy rating on Boston Scientific Corporation. The move followed the bank’s review of medtech valuations after hosting 34 medtech companies in Las Vegas last week.

Boston Scientific and BofA

BofA described its framework as “the new reality of medtech valuations” and said it was updating several price targets after meeting with the companies. The bank cited a year of few product cycles, inflation kicking up post-war, ACA, utilization worries, and “data centers over healthcare” in the note.

Boston Scientific trades on the New York Stock Exchange under the ticker BSX. The company manufactures, develops, and markets medical devices used in interventional medical procedures, with operations divided into Cardiovascular and MedSurg segments.

Argus on April 27

The BofA revision came after Argus cut its own price target on Boston Scientific to $95 from $115 on April 27 and also kept a Buy rating. Argus said the update followed the company’s fiscal Q1 earnings and guidance cut, and that Boston Scientific stock had recently underperformed the broader market.

Argus said Boston Scientific remains well-positioned in cardiovascular, electrophysiology, and neuromodulation. It also said management set more achievable objectives by cutting its outlook.

Price weakness and outlook

Argus called Boston Scientific’s “price weakness” a buying opportunity, while BofA’s lower target showed a sharper reset in expectations. The two notes point in the same direction: analysts still favor the shares, but they are marking down valuation assumptions after the company’s guidance change and a softer market backdrop for medtech.