Boston Scientific's shares rose following strong quarterly results

Boston Scientific shares rose 2.1% in premarket trading after the medical device manufacturer published second-quarter financial results that exceeded market expectations.

The company's adjusted earnings per share (EPS) came in at $0.86, beating analysts' forecast of $0.83. Revenue reached $5.44 billion, compared to the market's expected $5.37 billion.

Positive sentiment was bolstered by the company's announcement of a global restructuring program valued at $700–800 million, which includes supply chain optimization, production line relocations, and organizational changes. According to Boston Scientific's estimates, this initiative will deliver approximately $500 million in annual pre-tax savings by 2029.

Canaccord Genuity maintained a Buy recommendation on the company's shares with a $70 price target, while UBS also kept its Buy rating but lowered the price target from $95 to $74. According to the bank's assessment, the stock price, which is near five-year lows, creates an attractive investment opportunity, as the company's fundamental position has not materially changed.

Nevertheless, the company guided 2026 EPS in the range of $3.28–$3.32, which is below the market consensus of $3.36. Management also noted that WATCHMAN device sales in the U.S. are likely to remain flat in the third quarter as well.

According to analysts, the strong quarterly results and restructuring plan signaled to investors that the most difficult phase of the company's operational problems may have already passed, despite the fact that the full recovery process is still ongoing.