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Boston Scientific
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Latest analysis
Updated Nov 2, 2026
Boston Scientific Q3 2026: Cybersecurity incident masks underlying ICVT strength, compresses gross margin 320bps, and precedes $14.5B Penumbra acquisition close in early 2027.
A cybersecurity incident identified August 25, 2026 materially disrupted manufacturing and order fulfillment across all business units, compressing Q3 2026 gross margin to 66.7% from 69.9% and holding reported net sales growth to 1.5% organically despite strong ICVT and Neuromodulation performance. The nine-month period tells a stronger underlying story — 5.8% organic growth driven by the AGENT Drug-Coated Balloon and Farapulse PFA System — but competitive pressure in Electrophysiology and LAAC market deceleration are structural headwinds independent of the cyber event. The pending $14.5 billion Penumbra acquisition, financed with approximately $11.0 billion in new debt and stock, represents the largest capital allocation decision in Boston Scientific's history and will define the company's peripheral vascular and thrombectomy positioning through the next decade.
Tone: mixedRevenue
$20.1B
BSX 10-K · FY 2025
Employees
59,000
Revenue growth YoY
+19.9%
Headquarters
Marlborough, MA
Profile
BSX 10-K Item 1 · Feb 17, 2026Boston Scientific is a global developer, manufacturer, and marketer of minimally invasive medical devices serving interventional cardiology, electrophysiology, endoscopy, urology, neuromodulation, and oncology. The company operates through two reportable segments — MedSurg and Cardiovascular — and markets products in 127 countries. Its growth strategy centers on category leadership, high-growth adjacencies, and global expansion.
Read filing description ↓ Collapse description ↑
Boston Scientific Corporation is a global developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties. Our mission is to transform lives through innovative medical solutions that improve the health of patients around the world. As a medical technology leader for more than 45 years, we have advanced the practice of less-invasive medicine by helping physicians and other medical professionals diagnose and treat a wide range of diseases and medical conditions and improve patients' quality of life by providing alternatives to surgery and other medical procedures that are typically traumatic to the body. We advance science for life by providing a broad range of high-performance solutions to address unmet patient needs and reduce the cost of health care. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Our core businesses are organized into two reportable segments: MedSurg and Cardiovascular. In the fourth quarter of 2025, an organizational change combined our legacy Cardiology and Peripheral Interventions businesses into a single Cardiovascular business. We operate pursuant to five strategic imperatives: Strengthen Category Leadership, Expand into High Growth Adjacencies, Drive Global Expansion, Fund the Journey to Fuel Growth and Develop Key Capabilities. We market our products and solutions to hospitals, clinics, outpatient facilities and medical offices in 127 countries worldwide.
Primary products
- Resolution 360 and MANTIS Clips
- WallFlex Biliary Stent Systems
- AXIOS Stents and Electrocautery Enhanced Delivery Systems
- SpyGlass single-use scopes
- EXALT Model D Single-Use Duodenoscopes
- OverStitch Endoscopic Suturing System
Business segments
End markets
Geographies
“We believe that our products and solutions compete primarily on their ability to deliver both differentiated clinical and economic outcomes for our customers by enabling physicians to perform diagnostic and therapeutic procedures safely and effectively often in a less-invasive and cost effective manner.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Reported net sales grew 19.9% in 2025 versus 2024, driven by innovation and strong commercial execution, particularly in the Electrophysiology business unit led by continued growth of the FARAPULSE Pulsed Field Ablation System.
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