On August 25, Boston Scientific fell 3.01% in regular trading, trading at $48.86/share, with turnover of $314 million. The decline erased gains from the prior session on August 22, when shares rose on news of two new product approvals in China.

The continued weakness reflects lingering pressure from the company's Q2 earnings call in late July. While Q2 adjusted EPS of $0.86 beat the $0.83 consensus and revenue of $5.44 billion topped estimates, management lowered full-year adjusted EPS guidance to $3.28-$3.32, below the Street consensus of $3.36. Full-year net sales growth expectations were also cut to 5.5%-6.5% from 7%-8.5% previously. The Watchman left atrial appendage closure device business is expected to see mid-to-high single-digit revenue declines in the second half, with management acknowledging greater-than-expected headwinds. Multiple analysts subsequently cut price targets, with Deutsche Bank moving to $60 from $75, RBC to $70 from $85, and Argus downgrading the stock to Hold from Buy.

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