On June 4, Boston Scientific rose 3.17% in regular trading, trading at $49.09/share, with trading volume of $237 million. The stock rallied alongside a broad-based recovery in the medical device sector, despite multiple investment banks recently lowering their price targets.

On the news front, although Truist Securities cut its target from $85 to $64 and BTIG reduced its target from $80 to $65, both maintained buy ratings. Leerink Partners also trimmed its target from $87 to $74 while keeping an outperform rating. The consensus average target stands at approximately $77.71. RBC Capital Markets noted that the company's full-year organic revenue growth guidance of 6.5% to 8% remains intact, and management expects the Watchman stroke-prevention device to return to hypergrowth following a pending FDA label change submission.

Sector linkage was evident, with Medtronic up 5.55%, Abbott Laboratories up 4.54%, Intuitive Surgical up 3.16%, and Stryker up 2.87%. Fundamentally, the company reported Q1 revenue of $5.203 billion, up 11.58% year-over-year, with net income of $1.341 billion, up 98.96%.

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