BSX Boston Scientific

Boston Scientific Corporation, doing business as Boston Scientific, is a manufacturer of medical devices used in interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology. Boston Scientific is primarily known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries. With the full acquisition of Cameron Health in June 2012, the company also became notable for offering a minimally invasive implantable cardioverter-defibrillator which they call the EMBLEM Subcutaneous Implantable Defibrillator .
Company profile
Ticker
BSX, BSX+A
Exchange
Website
CEO
Michael Mahoney
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Baxter International • Becton, Dickinson And • 3M • Stryker • Teleflex • Resmed • Hill-Rom • Integra Lifesciences • Nuvasive • Haemonetics ...
SEC CIK
Corporate docs
IRS number
42695240
BSX stock data
()
News
'Halftime Report' Final Trades: Apple, Nvidia And More
15 Apr 21
Return On Capital Employed Overview: Boston Scientific
15 Apr 21
Benzinga's Top Ratings Upgrades, Downgrades For April 15, 2021
15 Apr 21
Atlantic Equities Initiates Coverage On Boston Scientific with Overweight Rating, Announces Price Target of $52
15 Apr 21
Boston Scientific Shares Move Higher; Co Shares Late-Breaking Clinical Trial Data For TheraSphere Y-90 Glass Microspheres , Sayts Demonstrates Improved Survival In Primary Liver Cancer
25 Mar 21
Press releases
BOSTON SCIENTIFIC INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Boston Scientific Corporation - BSX
16 Apr 21
Boston Scientific Announces Conference Call Discussing First Quarter 2021 Results and Participation in Truist Securities 2021 Life Sciences Summit
26 Mar 21
Late-Breaking Clinical Trial Data for TheraSphere™ Y-90 Glass Microspheres Demonstrates Improved Survival in Primary Liver Cancer
25 Mar 21
Boston Scientific Receives FDA Approval for TheraSphere™ Y-90 Glass Microspheres
18 Mar 21
Baring Private Equity Asia Announces Agreement to Sell Lumenis' Surgical Business to Boston Scientific for USD1.07 billion
3 Mar 21
Calendar
23 Feb 21
18 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 2B | 2B | 2B | 2B | 2B | 2B |
Cash burn (monthly) | 95.67M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 346.25M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 1.65B | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 17.2 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
15 Apr 21 | Jeffrey B. Mirviss | Common Stock | Sell | Dispose S | No | Yes | 40.9501 | 28,123 | 1.15M | 139,158 |
15 Apr 21 | Jeffrey B. Mirviss | Common Stock | Option exercise | Aquire M | No | Yes | 6.28 | 28,123 | 176.61K | 167,281 |
15 Apr 21 | Jeffrey B. Mirviss | Stock Option Common Stock | Option exercise | Dispose M | No | Yes | 6.28 | 28,123 | 176.61K | 0 |
15 Apr 21 | Arthur C Butcher | Common Stock | Sell | Dispose S | No | Yes | 40 | 9,676 | 387.04K | 29,398 |
15 Apr 21 | Arthur C Butcher | Common Stock | Option exercise | Aquire M | No | Yes | 13.08 | 4,250 | 55.59K | 39,074 |
15 Apr 21 | Arthur C Butcher | Stock Option Common Stock | Option exercise | Dispose M | No | Yes | 13.08 | 4,250 | 55.59K | 4,250 |
6 Apr 21 | Boston Scientific | Common Stock | Sell | Dispose S | No | No | 43.6 | 650,000 | 28.34M | 3,988,106 |
1 Apr 21 | Scott Olson | Common Stock | Sell | Dispose S | No | Yes | 38.61 | 700 | 27.03K | 12,844 |
30 Mar 21 | Boston Scientific | Common Stock | Sell | Dispose S | No | No | 40.8 | 1,350,000 | 55.08M | 4,638,106 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
89.3% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 833 |
Opened positions | 120 |
Closed positions | 106 |
Increased positions | 324 |
Reduced positions | 278 |
13F shares |
Current |
---|---|
Total value | 45.63B |
Total shares | 1.27B |
Total puts | 8.16M |
Total calls | 6.66M |
Total put/call ratio | 1.2 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 133.51M | $4.8B |
Vanguard | 110.78M | $3.98B |
Wellington Management | 77.27M | $2.78B |
STT State Street | 65.07M | $2.34B |
FMR | 64.64M | $2.32B |
Massachusetts Financial Services | 49.03M | $1.76B |
JHG Janus Henderson | 47.93M | $1.72B |
JPM JPMorgan Chase & Co. | 39.69M | $1.43B |
Primecap Management | 39.46M | $1.42B |
Bollard | 31.3M | $1.13B |
Financial report summary
?Competition
Abbott Laboratories • Medtronic • Teleflex • Abiomed • Merit Medical Systems • Hologic • Delcath Systems • Edwards Lifesciences • Lemaitre Vascular • Cardiovascular SystemsRisks
- The ongoing global COVID-19 pandemic and related impacts are having a material adverse effect on our operations, financial performance and cash flows. We are unable to predict the extent to which the pandemic and related impacts will continue to adversely impact our business operations, financial performance, results of operations, financial position and the achievement of our strategic objectives.
- We face intense competition and may not be able to keep pace with the rapid technological changes in the medical devices industry, which could have an adverse effect on our business, financial condition or results of operations.
- We may experience declines in market size, average selling prices for our products, medical procedure volumes and our share of the markets in which we compete, which may materially adversely affect our results of operations and financial condition.
- Continued consolidation in the healthcare industry or additional governmental controls exerted over pricing in key markets could lead to increased demands for price concessions or limit or eliminate our ability to sell to certain of our significant market segments, which could have an adverse effect on our business, financial condition or results of operations.
- Healthcare cost containment pressures, government payment and delivery system reforms, changes in private payer policies, and marketplace consolidations could decrease the demand for our products, the prices which customers are willing to pay for those products and/or the number of procedures performed using our devices, which could have an adverse effect on our business, financial condition or results of operations.
- If we are unable to manage our debt levels, maintain investment grade credit ratings at the three ratings agencies, or experience a disruption in our cash flows it could have an adverse effect on our cost of borrowing, financial condition or results of operations.
- We may record future intangible asset impairment charges related to one or more of our global reporting units, which could materially adversely impact our results of operations.
- Current domestic and international economic conditions could adversely affect our cash flows and results of operations.
- Failure to integrate acquired businesses into our operations successfully could adversely affect our business, financial condition and operating results.
- We may not be successful in our strategy relating to future strategic acquisitions of, investments in, or alliances with, other companies and businesses, which have been a significant source of historical growth for us, and will be key to our diversification into new markets and technologies.
- We may not realize the expected benefits from our restructuring and optimization initiatives, our long-term expense reduction programs may result in an increase in short-term expenses and our efforts may lead to unintended consequences.
- Our future growth is dependent upon the development of new products and enhancement of existing products, which requires significant research and development, clinical trials and regulatory approvals, all of which may be very expensive and time-consuming and may not result in commercially viable products.
- Interruption of our supply chain or manufacturing operations, including resulting from natural disasters, further public heath crises and other catastrophic events or other events outside of our control could adversely affect our results of operations and financial condition.
- Disruptions in the supply of the materials and components used in manufacturing our products or the sterilization of our products by third-party vendors could adversely affect our results of operations and financial condition.
- Healthcare policy changes, including healthcare reform legislation, may have a material adverse effect on our business, financial condition, results of operations and cash flows.
- We are subject to extensive and dynamic medical device regulation, which may impede or hinder the approval or sale of our products and, in some cases, may ultimately result in an inability to obtain approval of certain products or may result in the recall or seizure of previously approved products.
- Our products are continually subject to clinical trials and other analyses conducted by us, our competitors or other third parties, the results of which may be unexpected, or perceived as unfavorable by the market, and could have a material adverse effect on our business, financial condition or results of operations.
- The medical device industry and its customers continue to face scrutiny and regulation by governmental authorities and are often the subject of numerous investigations, often involving marketing and other business practices or product quality issues including device recalls or advisories. These investigations could result in the commencement of civil and criminal proceedings; imposition of substantial fines, penalties and administrative remedies, including corporate integrity agreements, stipulated judgments or exclusion; diversion of our employees' and management's attention; imposition of administrative costs and have an adverse effect on our financial condition, results of operations and liquidity; and may lead to greater governmental regulation in the future.
- Changes in tax laws, unfavorable resolution of tax contingencies, or exposure to additional income tax liabilities could have a material impact on our financial condition, results of operations and/or liquidity.
- We may not effectively be able to protect our intellectual property or other sensitive data, which could have a material adverse effect on our business, financial condition or results of operations.
- We rely on the proper function, availability and security of information technology systems to operate our business and a cyber-attack or other breach of these systems could have a material adverse effect on our business, financial condition or results of operations.
- Pending and future intellectual property litigation could be costly and disruptive to us.
- Pending and future product liability claims and other litigation, including private securities litigation, stockholder derivative suits and contract litigation, may adversely affect our financial condition and results of operations or liquidity.
- Any failure to meet regulatory quality standards applicable to our manufacturing and quality processes could have an adverse effect on our business, financial condition and results of operations.
- Our business could be negatively impacted by corporate social responsibility and sustainability matters.
Management Discussion
- Refer to Executive Summary for further discussion of our net sales and a comparison of our 2020 and 2019 net sales.
- In 2019, we generated net sales of $10.735 billion, as compared to $9.823 billion in 2018. This increase of $912 million, or 9.3 percent, included operational growth of 11.1 percent and the negative impact of 180 basis points from foreign currency fluctuations. Operational net sales included approximately $378 million in 2019 associated with the acquisitions of NxThera, Inc. (NxThera) in the second quarter of 2018, Claret Medical, Inc. (Claret) in the third quarter of 2018, Augmenix, Inc. (Augmenix) in the fourth quarter of 2018, Vertiflex in the second quarter of 2019, and BTG in the third quarter of 2019, each with less than a full year of prior period related net sales.
- A significant factor contributing to the decrease in our gross profit margin for 2020 as compared to 2019 was manufacturing costs of $149 million associated with abnormally low production levels resulting from plant shutdowns and reduced operations. In addition, we recorded $119 million of inventory charges associated with the global, voluntary recall of all unused inventory of our LOTUS Edge™ Aortic Valve System and discontinuation of the LOTUS platform. Our gross margin was further negatively impacted in 2020 due to our conversion to a consignment inventory model for our LAAC franchise with the launch of our next-generation WATCHMAN FLX™ Device. In addition, the unfavorable product mix due to the deferral of procedures using higher-margin products, price declines related primarily to sales of our coronary drug-eluting stent products, excess and obsolete inventory charges due to lower forecasted demand for certain of our products as well as the amortization of the inventory fair value step up recorded in connection with our acquisition of BTG contributed to a decrease in gross margin. These decreases were partially offset by manufacturing cost reductions driven by our process improvement programs in each period as well as favorable foreign currency fluctuations.
Content analysis
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H.S. junior Avg
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New words:
AF, African, Alpha, ambulatory, anticoagulation, antidilutive, antidote, aspect, attrition, Australia, Australian, authoritative, automatically, backlog, Bakken, bench, bilateral, bile, BofA, Bologna, broadly, cancel, canceled, cava, celebrate, Certiorari, ChiefFinancial, childcare, Citigroup, citizen, cleaner, coalition, colonoscopy, color, combat, COMET, computerized, concurrent, consumption, contra, Cosman, count, COVID, creative, Crescent, cryptogenic, CT, cultivating, dedesignated, delegated, derecognize, Discover, discrimination, dispersed, dissolution, distancing, Dow, downgrade, duct, EMEA, empowerment, Enrique, enrollment, EPS, ERG, Errichiello, ERs, exact, Excellence, EXHIBITNO, explained, extreme, extremely, Filter, Foam, Gap, GBP, gender, greatest, Greenfield, Gusinsky, heat, heath, highlight, holter, home, hour, IAS, ICM, incident, incompetence, inequity, inhibiting, Injectable, injustice, Insertable, intraperiod, Intrauterine, Islander, Israel, issuable, Kerkrade, Koninklijke, LEED, light, longstanding, lux, mandatorily, Mandatory, Mariano, MEGATRON, mental, mentoring, metric, Middlesex, mobile, monetization, monthly, multicultural, Native, neck, Newsweek, notably, NVAF, oil, onset, onsite, pack, pandemic, perforation, planet, Polidocanol, population, pose, postponed, postponement, PPE, prepay, prepayment, Preventice, professional, professionally, prolonged, protectionist, Pulmonx, quell, racial, racism, rapidly, reaction, ready, recession, recycling, referral, reintroduce, relieving, reluctance, remediation, remittance, reoccur, reopened, representation, reschedule, rest, restored, resurgence, resuscitator, RFA, robust, rooted, salary, saving, Secretary, SERB, short, Simplification, slowdown, solar, spacer, spread, STABLEPOINT, Stark, statistical, steady, strain, supervisor, syncope, syndrome, telemetry, terrorist, testament, thriving, tomography, Top, traditional, transport, transportation, travel, trillion, trunk, twenty, unilateral, uninsured, unrest, vaccine, variant, Varithena, vena, viability, Vladimir, Vue, WallFlex, water, week, winning, workplace, zip
Removed:
Abele, ABRAMGE, adaptive, AG, alteration, Arthrex, Associacao, attractive, Biomet, Bourang, braided, Brasileira, broadest, Canadian, Carolyn, content, counterclaim, counterfeit, de, deceptive, deficit, determination, directing, doubtful, equitable, Eurodollar, excise, expert, extending, fee, Florida, fraudulent, Germany, globalization, GmbH, grew, Grupo, harmed, heavy, history, holding, imported, intentional, invalidity, joined, LabSystem, landscape, Latin, leasing, liable, listing, lump, Maestro, mandate, materiality, Medicina, Medizintechnik, menorrhagia, menstrual, metal, MetriQ, misrepresentation, multicurrency, multidistrict, negligence, negligent, noncancellable, opposed, opposition, optional, Orlando, palliation, Pete, preferential, prevailing, promotion, prospectively, published, Pump, putative, PVT, Racketeer, recruiting, referendum, reissuance, remained, removal, rental, repayment, repeal, repealed, resin, restating, revising, revocation, revoked, sapien, school, seal, sealing, sentiment, servicer, shut, Spenser, stay, staying, steerable, strict, Stryker, suspension, TA, Teresa, TF, Turner, unavailable, unquantifiable, upcoming, updated, uterine, vaginal, verified, volatile, voluntarily, waiting, Zimmer
Financial reports
10-K
2020 FY
Annual report
23 Feb 21
10-Q
2020 Q3
Quarterly report
5 Nov 20
10-Q
2020 Q2
Quarterly report
5 Aug 20
10-Q
2020 Q1
Quarterly report
6 May 20
10-K
2019 FY
Annual report
25 Feb 20
10-Q
2019 Q3
Quarterly report
5 Nov 19
10-Q
2019 Q2
Quarterly report
30 Jul 19
10-Q
2019 Q1
Quarterly report
29 Apr 19
10-K
2018 FY
Annual report
19 Feb 19
10-Q
2018 Q3
Quarterly report
29 Oct 18
Current reports
8-K
Departure of Directors or Certain Officers
11 Mar 21
8-K
Acquisition of a leading laser technology to expand global kidney stone management portfolio
3 Mar 21
8-K
Other Events
1 Mar 21
8-K
Boston Scientific Announces Results for Fourth Quarter and Full Year 2020
3 Feb 21
8-K
Acquisition of external cardiac monitoring technologies and services provider to expand
21 Jan 21
8-K
Boston Scientific Announces Preliminary Unaudited Sales
12 Jan 21
8-K
Other Events
14 Dec 20
8-K
Boston Scientific Signs Definitive Agreement to Divest
1 Dec 20
8-K
Departure of Directors or Certain Officers
23 Nov 20
8-K
Boston Scientific Announces LOTUS Edge ™ Aortic Valve System
17 Nov 20
Registration and prospectus
S-8
Registration of securities for employees
5 Aug 20
8-A12B
Registration of securities on exchange
28 May 20
424B5
Prospectus supplement for primary offering
22 May 20
424B5
Prospectus supplement for primary offering
22 May 20
FWP
Free writing prospectus
22 May 20
424B5
Prospectus supplement for primary offering
20 May 20
424B5
Prospectus supplement for primary offering
20 May 20
S-3ASR
Automatic shelf registration
20 May 20
424B2
Prospectus for primary offering
15 May 20
FWP
Free writing prospectus
14 May 20
Proxies
DEFA14A
Additional proxy soliciting materials
24 Mar 21
DEF 14A
Definitive proxy
24 Mar 21
DEFA14A
Additional proxy soliciting materials
10 Apr 20
DEFA14A
Additional proxy soliciting materials
25 Mar 20
DEF 14A
Definitive proxy
25 Mar 20
DEFA14A
Additional proxy soliciting materials
3 May 19
DEFA14A
Additional proxy soliciting materials
22 Apr 19
DEFA14A
Additional proxy soliciting materials
27 Mar 19
DEF 14A
Definitive proxy
27 Mar 19
PRE 14A
Preliminary proxy
14 Mar 19
Other
SD
Conflict minerals disclosure
28 May 20
SD
Conflict minerals disclosure
29 May 19
SD
Conflict minerals disclosure
30 May 18
SD
Conflict minerals disclosure
14 May 17
UPLOAD
Letter from SEC
12 Dec 16
CORRESP
Correspondence with SEC
9 Nov 16
UPLOAD
Letter from SEC
30 Oct 16
CORRESP
Correspondence with SEC
29 Sep 16
UPLOAD
Letter from SEC
22 Sep 16
SD
Conflict minerals disclosure
25 May 16
Ownership
4
BOSTON SCIENTIFIC / Arthur C Butcher ownership change
16 Apr 21
4
BOSTON SCIENTIFIC / Jeffrey B. Mirviss ownership change
16 Apr 21
4
Change in insider ownership
8 Apr 21
4
BOSTON SCIENTIFIC / Scott Olson ownership change
2 Apr 21
4
Change in insider ownership
1 Apr 21
4
BOSTON SCIENTIFIC / David A Pierce ownership change
17 Mar 21
4
BOSTON SCIENTIFIC / David A Pierce ownership change
4 Mar 21
4
BOSTON SCIENTIFIC / Joseph Michael Fitzgerald ownership change
4 Mar 21
4
BOSTON SCIENTIFIC / Daniel J. Brennan ownership change
4 Mar 21
4
BOSTON SCIENTIFIC / Eric Francis Yves Thepaut ownership change
2 Mar 21
Patents
GRANT
Utility
Articulating needles and related methods of use
13 Apr 21
A medical device may include a needle, including a plurality of links and a distal tip, reciprocally movable between a first configuration and a second configuration, and a conduit including a lumen extending through the needle, the conduit being coupled to the distal tip, wherein longitudinal movement of the conduit is configured to transition the needle between the first configuration and the second configuration.
GRANT
Utility
Systems, devices, and related methods for retracting tissue
13 Apr 21
In one aspect of the present disclosure, a tissue retraction system may include a first anchor, a second anchor, and an elongate coupling member extending between the first anchor and the second anchor.
GRANT
Utility
Apparatus and method for treatment of in-stent restenosis
13 Apr 21
A catheter and catheter system can use energy tailored for remodeling and/or removal of target material proximate to a body lumen, often of stenotic material or tissue in the luminal wall of a blood vessel of a patient.
GRANT
Utility
System and methods for heart rate and electrocardiogram extraction from a spinal cord stimulation system
13 Apr 21
A system and method for extracting a cardiac signal from a spinal signal include measuring a spinal signal at one or more electrodes that are connected to a neurostimulator and implanted within a patient's spinal canal and processing the spinal signal to extract the cardiac signal, which includes features that are representative of the patient's cardiac activity.
GRANT
Utility
Method and apparatus for optimizing spatio-temporal patterns of neurostimulation for varying conditions
13 Apr 21
An example of a system for programming a neurostimulator may include a storage device and a pattern generator.
Transcripts
2020 Q4
Earnings call transcript
3 Feb 21
2020 Q3
Earnings call transcript
28 Oct 20
2020 Q2
Earnings call transcript
29 Jul 20
2020 Q1
Earnings call transcript
29 Apr 20
2019 Q4
Earnings call transcript
5 Feb 20
2019 Q3
Earnings call transcript
23 Oct 19
2019 Q2
Earnings call transcript
24 Jul 19
2019 Q1
Earnings call transcript
24 Apr 19
2018 Q4
Earnings call transcript
6 Feb 19
2018 Q3
Earnings call transcript
24 Oct 18
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