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Boston Scientific (BSX)

Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, The company advances science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare.

Company profile

Ticker
BSX, BSX+A
Exchange
CEO
Michael Mahoney
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Acurate Industria e Comercio Ltda. • American Medical Systems Europe B.V. • Biocompatibles UK Limited • Biocompatibles, Inc. • Boston Scientific (Malaysia) Sdn. Bhd. • Boston Scientific (South Africa) Proprietary Limited • Boston Scientific (Thailand) Ltd. • Boston Scientific (UK) Limited • Boston Scientific AG • Boston Scientific Argentina S.A. ...
IRS number
42695240

BSX stock data

Calendar

4 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 458M 458M 458M 458M 458M 458M
Cash burn (monthly) 23.67M 203.33M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 34.48M 296.24M n/a n/a n/a n/a
Cash remaining 423.52M 161.76M n/a n/a n/a n/a
Runway (months of cash) 17.9 0.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Aug 22 Michael F Mahoney Common Stock Sell Dispose S No Yes 40.9661 125,828 5.15M 2,133,122
8 Aug 22 Michael F Mahoney Common Stock Option exercise Acquire M No Yes 13.08 43,261 565.85K 2,258,950
8 Aug 22 Michael F Mahoney Common Stock Option exercise Acquire M No Yes 7.39 82,567 610.17K 2,215,689
8 Aug 22 Michael F Mahoney Stock Option Common Stock Option exercise Dispose M No Yes 7.39 82,567 610.17K 247,701
8 Aug 22 Michael F Mahoney Stock Option Common Stock Option exercise Dispose M No Yes 13.08 43,261 565.85K 302,822
2 Aug 22 Jonathan Monson Common Stock Payment of exercise Dispose F No No 41.46 320 13.27K 32,602
2 Aug 22 Jonathan Monson Common Stock Option exercise Acquire M No No 0 1,089 0 32,922
2 Aug 22 Jonathan Monson RSU Common Stock Option exercise Dispose M No No 0 1,089 0 3,270
2 Aug 22 Connors Nelda J Common Stock Sell Dispose S No No 41.58 16,088 668.94K 4,877
1 Aug 22 Eric Francis Yves Thepaut Common Stock Sell Dispose S No No 40.99 20,676 847.51K 72,485.99
88.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 873 867 +0.7%
Opened positions 103 121 -14.9%
Closed positions 97 108 -10.2%
Increased positions 337 281 +19.9%
Reduced positions 280 312 -10.3%
13F shares Current Prev Q Change
Total value 56.15B 54.64B +2.8%
Total shares 1.27B 1.29B -1.4%
Total puts 6.74M 8.79M -23.3%
Total calls 5.32M 5.66M -6.0%
Total put/call ratio 1.3 1.6 -18.4%
Largest owners Shares Value Change
BLK Blackrock 126.43M $5.6B +0.8%
Vanguard 113.36M $5.02B +1.6%
FMR 93.12M $4.12B -5.9%
Massachusetts Financial Services 84.17M $3.73B -1.6%
Wellington Management 68.34M $3.03B -8.3%
STT State Street 63.22M $2.8B -1.7%
JPM JPMorgan Chase & Co. 47.77M $2.12B +2.0%
Primecap Management 37.92M $1.68B -0.5%
JHG Janus Henderson 26.75M $1.18B -35.1%
Bollard 26.63M $1.18B -1.2%
Largest transactions Shares Bought/sold Change
JHG Janus Henderson 26.75M -14.49M -35.1%
Norges Bank 0 -13.26M EXIT
Newport Trust 142.82K -7.62M -98.2%
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 16.72M +6.84M +69.2%
Citadel Advisors 12.94M +6.42M +98.5%
Wellington Management 68.34M -6.18M -8.3%
Viking Global Investors 12.84M -6.12M -32.3%
FMR 93.12M -5.79M -5.9%
Voya Investment Management 7.02M +5.37M +326.1%
TROW T. Rowe Price 2.04M -3.78M -65.0%

Financial report summary

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Risks
  • The ongoing global COVID-19 pandemic and related impacts are having an 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 and access 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 if we 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 cost savings 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 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.
  • 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 and operations are subject to risks related to climate change.
  • Our business could be negatively impacted by corporate social responsibility and sustainability matters.
Management Discussion
  • (5) On March 1, 2021, we completed the divestiture of the Specialty Pharmaceuticals business. Our consolidated net sales include Specialty Pharmaceuticals up to the date of the closing of the transaction.
  • Refer to Executive Summary for further discussion of our net sales and a comparison of our 2021 and 2020 net sales.
  • In 2020, we generated net sales of $9.913 billion, as compared to $10.735 billion in 2019. This decrease of $823 million, or 7.7 percent, included operational declines of 7.8 percent and the positive impact of 10 basis points from foreign currency fluctuations. Operational net sales included $413 million in 2020 associated with our acquisition of Vertiflex, Inc. (Vertiflex) for the period prior to June 2020 and our acquisition of BTG plc (BTG) for the period prior to mid-August 2020, for both of which there were no prior period net sales. Operational net sales also included $41 million in 2019 associated with our global embolic microspheres portfolio, for which there were no comparable period sales in 2020 following our divestiture in the third quarter of 2019, and our intra-uterine health business, for which there were no comparable period sales in 2020 following our divestiture in the second quarter of 2020.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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Patents

Utility
Closure Device with Fixed Jaw Hook
11 Aug 22
A device includes a capsule extending longitudinally from a proximal end to a distal end and including a channel extending therethrough.
Utility
Click Chemistry Capturable Platinum-based Antineoplastic Agents
11 Aug 22
A chemotherapy agent comprising a chemotherapy group and a ligand secured to the chemotherapy group is disclosed, the ligand comprising a reactive group capable of bonding to a capture substrate.
Utility
User Interface for Neurostimulation Waveform Composition
11 Aug 22
An example of a system for programming a neurostimulator may include a storage device and a user interface.
Utility
Systems and Methods for Estimating a Volume of Activation Using a Compressed Database of Threshold Values
11 Aug 22
A system for estimating a volume of activation around an implanted electrical stimulation lead for a set of stimulation parameters includes a display; and a processor coupled to the display and configured to: receive a set of stimulation parameters including a stimulation amplitude and a selection of one of more electrodes of the implanted electrical stimulation lead for delivery of the stimulation amplitude; determine an estimate of the volume of activation based on the set of stimulation parameters using the stimulation amplitude and a database including a plurality of planar distributions of stimulation threshold values and a map relating the planar distributions to spatial locations based on the one or more electrodes of the implanted electrical stimulation lead selected for delivery of the stimulation amplitude; and output on the display a graphical representation of the estimate of the volume of activation.
Utility
Attachment clamp
9 Aug 22
Various apparatuses to attach a first medical device to a second medical device are described that allow the physician to grasp only a single device while the other device remains securely attached to the one being grasped.