Boston Scientific sees price targets cut to $61 and $68 by TD Cowen and BofA amid broader medtech sector valuation pressures.
TD Cowen reduced Boston Scientific’s price target to $61 from $80 on May 29, maintaining a Buy rating but adjusting for updated Watchman data and organic sales growth guidance. The firm now aligns with the lower end of the company’s projections for Q2 and the full year.
BofA followed with a separate cut to $68 from $105 on May 18, also keeping a Buy rating. The adjustment reflects a sector-wide valuation reset, driven by limited product cycles, inflation concerns, and shifting investor focus toward AI and data centers over healthcare.
Boston Scientific operates in cardiovascular and medtech segments, including cardiology, urology, and neuromodulation devices. The cuts highlight broader challenges in the medtech space amid macroeconomic uncertainties.