Boston Scientific cuts guidance again after unveiling restructuring plan

MedTech Boston Scientific cuts guidance again after unveiling restructuring plan By Ben Adams Jul 30, 2026 9:33am Boston Scientific Devices MedTech Boston Scientific is cutting its financial guidance for the second quarter in a row as it gears up for a tough six months ahead. The medtech’s chairman and CEO, Michael Mahoney, said during a July 29 call with investors that the company “now expect[s] the second half to be more pressured than we originally anticipated.” Boston Scientific now expects full-year 2026 organic revenue growth of 5% to 6%, down from its previous guidance of 6.5% to 8%. Mahoney did not mince words, saying on the call: “This update today is not the outcome we planned or what you have come to expect from us.” The company already tempered its full-year guidance in the first quarter because of increased competition and slower growth in certain franchises, despite beating sales expectations.

The two main areas of concern for the medtech are electrophysiology, which includes its ablation products, and its Watchman heart implant business. Watchman growth has slowed from around 30% last year to just over 4% in the second quarter, while the electrophysiology business is coming under pressure from rivals including Abbott and Johnson & Johnson. Related Boston Scientific unveils major restructuring, plots job cuts amid savings drive Those headwinds could also blow into next year, Mahoney said on the call.

“While we are sharpening our forecasting processes and taking actions to address controllable headwinds, our underlying assumptions are that these dynamics continue in 2027.” He added that the company expects revenue and earnings growth to “improve meaningfully in 2028.” The remarks came a day after the company announced a major multiyear restructuring plan focused on its supply chain, organizational changes and reductions in indirect spending. The plan is expected to result in $700 million to $800 million in pretax charges and reduce annual pretax expenses by about $500 million. Boston Scientific plans to reinvest a portion of those savings in growth initiatives.

The restructuring is expected to include some job cuts, though details have not yet been released. Boston Scientific Devices MedTech