It has been about a month since the last earnings report for Boston Scientific (BSX Quick QuoteBSX - Free Report) . Shares have added about 1.5% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Boston Scientific due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

BSX Q2 Earnings and Revenues Top Estimates

Boston Scientific reported second-quarter 2026 adjusted earnings of 86 cents per share, up 14.7% year over year. The figure beat the Zacks Consensus Estimate by 3.6%.

Revenues rose 7.5% on a reported basis to $5.44 billion and surpassed the consensus estimate by 1.1%. Cardiovascular growth, double-digit gains in Asia-Pacific (APAC) and Latin America and Canada (LACA) and strong Neuromodulation sales supported the quarter.

Segmental Results Reflect Broad-Based Growth

Cardiovascular revenues totaled $3.62 billion, increasing 8.3% on a reported basis and 7.8% on an operational and organic basis. The segment generated roughly two-thirds of Boston Scientific’s quarterly revenues and remained the primary growth contributor.

MedSurg revenues rose 5.9% to $1.82 billion, with operational and organic growth of 5.4%. Within the segment, Endoscopy sales increased 7.6% to $793 million, while Neuromodulation revenues climbed 12.7% to $341 million. Urology revenues advanced 1.1% to $684 million, marking the slowest growth among the company’s reported businesses.

Broad Regional Sales Gains

U.S. revenues increased 6.2% to $3.43 billion. The domestic market remained Boston Scientific’s largest region, generating nearly 63% of consolidated sales.

APAC revenues rose 11.2% to $878 million, while LACA sales surged 22.4% to $206 million. LACA operational growth was 16.2%. Europe, Middle East and Africa (“EMEA”) revenues increased 6.1% to $932 million, although operational growth was lower at 4.2% due to currency effects.

Boston Scientific Expands Quarterly Margins

The gross margin expanded approximately 306 basis points (bps) year over year to 70.7%. The cost of products sold declined 2.6% to $1.59 billion in the reported quarter.

Selling, general and administrative expenses rose 5.1% to $1.80 billion. Research and development expenses increased 5.3% to $554 million, while royalty expenses plunged 14.3% to $12 million. Adjusted operating margin expanded approximately 71 bps to 28.4%.

BSX Advances Its Cardiovascular Pipeline

Boston Scientific presented data from the FRACTURE trial of the SEISMIQ 4CE coronary intravascular lithotripsy catheter. The study met its primary endpoints, demonstrating procedural success and high freedom from major adverse cardiac events at 30 days.

The AVANT GUARD study also met its safety and effectiveness endpoints. FARAPULSE pulsed field ablation demonstrated statistical superiority over anti-arrhythmic drugs in patients with persistent atrial fibrillation who had not received prior treatment for the condition.

New Growth Investments

The company invested $1.5 billion in MiRus LLC for an approximately 34% equity stake and an exclusive option to acquire its transcatheter aortic valve replacement business. MiRus is developing the investigational SIEGEL balloon-expandable TAVR system.

BSX also completed its previously announced $2 billion accelerated share repurchase program. The transaction resulted in the repurchase of approximately 40 million shares, reducing the company’s outstanding share base.

Q3 and Full-Year Guidance

Boston Scientific now expects reported sales growth of 5.5-6.5%, down from its prior forecast of 7-8.5%. Organic sales growth is now projected at 5-6% compared with the earlier range of 6.5-8%. 

The company also reduced its full-year adjusted earnings forecast to $3.28-$3.32 per share from the earlier $3.34-$3.41. 

For the third quarter, management forecasts reported and organic sales growth of 3-5%. Adjusted earnings are expected between 80 cents and 82 cents per share. 

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates revision.

VGM Scores

Currently, Boston Scientific has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock has a grade of C on the value side, putting it in the middle 20% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Boston Scientific has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry Player

Boston Scientific belongs to the Zacks Medical - Products industry. Another stock from the same industry, Royal Philips (PHG Quick QuotePHG - Free Report) , has gained 1.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Philips reported revenues of $5.07 billion in the last reported quarter, representing a year-over-year change of +3%. EPS of $0.57 for the same period compares with $0.41 a year ago.

Philips is expected to post break-even earnings per share for the current quarter, representing a year-over-year change of 0%. Over the last 30 days, the Zacks Consensus Estimate has changed 0%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Philips. Also, the stock has a VGM Score of A.