Raymond James downgraded Boston Scientific from "strong buy" to "outperform" amid concerns over slowing growth in key product lines. Analyst Jayson Bedford maintained a positive outlook despite the rating change, noting that the market has already priced in many growth concerns affecting the medical technology company.

The downgrade specifically targets slowing growth trends in electrophysiology and Watchman solutions for atrial fibrillation patients. These two product lines, which accounted for 26% of Boston Scientific's 2025 sales, have raised concerns about future revenue prospects despite positive results from the CHAMPION-AF trial.

Market reaction has been swift, with the stock falling 9.5% to $62.63, marking its lowest point since early 2024. The decline reflects investor anxiety about growth deceleration in the company's most significant revenue segments, though Bedford suggested the current valuation already factors in much of this negative sentiment.