On August 20, Boston Scientific declined 3.04% in regular trading, trading at $50.43/share, with turnover of $132 million. The stock remains under pressure as the market continues to digest the company's lowered full-year guidance and a wave of analyst target price reductions.

Boston Scientific reported Q2 adjusted EPS of $0.86 and net sales of $5.44 billion, both beating expectations, but cut its full-year adjusted EPS guidance to $3.28-$3.32 from $3.34-$3.41, below the consensus estimate of $3.36. Full-year net sales growth was lowered to 5.5%-6.5% from the prior 7%-8.5%. Management indicated the second half will face greater-than-expected pressure, with Watchman device revenue projected to decline mid-to-high single digits year-over-year. Multiple investment banks subsequently slashed price targets: Deutsche Bank from $75 to $60, RBC from $85 to $70, UBS from $95 to $74 and later to $67, while Argus downgraded the stock to Hold from Buy.

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