Boston Scientific stock faces negative outlook as leverage risk rises

Published on 11/10/2026 at 15:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Boston Scientific stock faces a tougher credit backdrop after S&P Global Ratings turned its outlook negative. Penumbra adds leverage risk.

Credit pressure meets acquisition risk

S&P Global Ratings expects slower growth in 2026 and 2027 as WATCHMAN and electrophysiology face commercial pressure.
The planned Penumbra acquisition could push adjusted leverage above the agency's downside trigger.
Execution, market-share stabilization and disciplined capital allocation are central to the outlook.

Boston Scientific, US1011371077, Illustration mit AI erstellt.

S&P Global Ratings has revised Boston Scientific's credit outlook to negative from stable while affirming the medical-device maker's A- issuer rating. The action was taken on Friday, November 6, 2026, as pressure on WATCHMAN and electrophysiology continued to weigh on growth expectations.

Boston Scientific stock traded at 39.39 euros on Lang & Schwarz at 15:40 CET on Tuesday, November 10, 2026.

Growth pressure weighs on credit

In its research update, S&P Global Ratings said Boston Scientific's WATCHMAN and electrophysiology franchises face market and competitive headwinds. The agency projects revenue growth of 4.4 percent in 2026 and 9 percent in 2027, below the mid- to high-teens growth rates achieved in 2024 and 2025.

WATCHMAN represents 10 percent of revenue, according to S&P, while electrophysiology contributes 16 percent. The rating agency expects both franchises to remain under pressure into 2027 as Boston Scientific works to stabilize market share and restore growth.

Penumbra raises balance-sheet demands

The planned 14.5 billion US dollar acquisition of Penumbra is expected to close in early 2027. S&P Global Ratings expects adjusted leverage to rise above 3.6 times after completion, compared with its 2.5-times downside trigger, and to remain elevated for the following two years.

Boston Scientific is also seeking 500 million US dollars in restructuring savings through 2029. A return to a stable outlook would depend on stabilizing WATCHMAN and electrophysiology, delivering growth in the broader portfolio, integrating Penumbra smoothly and maintaining a conservative financial policy.