Bernstein Cuts Boston Scientific Target on Abbott Competition

Bernstein SocGen Group lowered its price target on Boston Scientific Corp. (NYSE:BSX) to $54 from $60 while maintaining an Outperform rating, pointing to looming competitive pressure from Abbott Laboratories’ Amulet 360 device. The valuation adjustment highlights intensifying rivalry in the medical device sector as rival products challenge established market leaders.

"Abbott’s next-generation device appears to have addressed legacy safety concerns," said Lee Hamnright, analyst at Bernstein, in a note to clients.

The Watchman Versus Amulet 360 Rivalry

At the center of Bernstein's thesis is the potential market share displacement facing Boston Scientific’s Watchman product. The Watchman device has long dominated the left atrial appendage closure market, used to reduce stroke risk in patients with non-valvular atrial fibrillation.

However, the introduction of Abbott Laboratories' Amulet 360 represents a notable competitive hurdle. According to Investing.com reporting, analysts believe the updated device resolves earlier iterations' limitations, positioning Abbott to capture critical share in high-growth cardiology segments.

Cyberattack Headwinds and Executive Transition

Beyond product competition, Boston Scientific faces near-term operational hurdles. Wells Fargo recently lowered its price target for Boston Scientific to $48, citing an estimated $300 million reduction in third-quarter sales and a $0.13 decrease in earnings per share. Those projected financial impacts stem from eight days of operational downtime caused by a cyberattack.

Simultaneously, the medical device maker is preparing for leadership changes. Boston Scientific announced the retirement of Arthur C. Butcher, its Executive Vice President and Group President of MedSurg and Asia Pacific, with his departure scheduled to take effect January 1, 2027.

What Is at Stake for Medical Device Investors

The dual pressure of product competition from Abbott and recovery from operational disruptions test the resilience of Boston Scientific's growth trajectory. As major Wall Street firms recalibrate price targets, the company must defend its flagship cardiology franchises while managing upcoming executive transitions and cybersecurity remediation costs.