Company profile

Ticker
BSX, BSX+A
Exchange
CEO
Michael F. Mahoney
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
42695240

BSX stock data

(
)

Calendar

5 Aug 20
25 Sep 20
31 Dec 20

News

Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
11 Sep 20 Joseph Michael Fitzgerald Common Stock Sell Dispose S Yes 40.7606 77,640 3.16M 221,048
11 Sep 20 Joseph Michael Fitzgerald Common Stock Option exercise Aquire M Yes 7.16 77,640 555.9K 298,688
11 Sep 20 Joseph Michael Fitzgerald Stock Option Common Stock Option exercise Dispose M Yes 7.16 77,640 555.9K 0
3 Sep 20 Jeffrey B. Mirviss Common Stock Sell Dispose S Yes 42.31 9,139 386.67K 106,483
1 Sep 20 Jeffrey B. Mirviss Common Stock Sell Dispose S Yes 40.9338 60,000 2.46M 115,622
1 Sep 20 Jeffrey B. Mirviss Common Stock Option exercise Aquire M Yes 6.31 60,000 378.6K 175,622
1 Sep 20 Jeffrey B. Mirviss Stock Option Common Stock Option exercise Dispose M Yes 6.31 60,000 378.6K 0
1 Sep 20 David A Pierce Common Stock Sell Dispose S Yes 40.7 2,044 83.19K 4,972
28 Aug 20 Maulik Nanavaty Common Stock Sell Dispose S No 40.4517 38,000 1.54M 228,993
28 Aug 20 Maulik Nanavaty Common Stock Option exercise Aquire M No 17.26 6,851 118.25K 266,993
90.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 807 776 +4.0%
Opened positions 113 84 +34.5%
Closed positions 82 143 -42.7%
Increased positions 339 282 +20.2%
Reduced positions 238 304 -21.7%
13F shares
Current Prev Q Change
Total value 327.08B 269.62B +21.3%
Total shares 1.29B 1.26B +2.3%
Total puts 9.07M 5.52M +64.4%
Total calls 6.12M 4.82M +27.1%
Total put/call ratio 1.5 1.1 +29.3%
Largest owners
Shares Value Change
BLK BlackRock 124.15M $4.36B +16.4%
Vanguard 113.12M $3.97B +1.2%
Capital World Investors 84.36M $2.96B +4.5%
FMR 67.94M $2.39B -34.0%
STT State Street 64.67M $2.27B +3.9%
Wellington Management 55.91M $1.96B +31.1%
JHG Janus Henderson 50.67M $1.78B +19.0%
Massachusetts Financial Services 43.02M $1.51B +44.7%
Primecap Management 41.68M $1.46B -1.5%
JPM JPMorgan Chase & Co. 39.53M $1.39B +5.5%
Largest transactions
Shares Bought/sold Change
FMR 67.94M -35.01M -34.0%
BLK BlackRock 124.15M +17.45M +16.4%
Viking Global Investors 18.46M -13.36M -42.0%
Massachusetts Financial Services 43.02M +13.28M +44.7%
Wellington Management 55.91M +13.26M +31.1%
N Price T Rowe Associates 28.58M +11.64M +68.7%
Citadel Advisors 85.22K -8.56M -99.0%
JHG Janus Henderson 50.67M +8.1M +19.0%
Jennison Associates 8.98M -8.09M -47.4%
Steadfast Capital Management 9.26M +5.24M +130.4%

Financial report summary

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Risks
  • 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.
  • 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.
  • Current domestic and international economic conditions could adversely affect our cash flows and results of operations.
  • 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.
  • Natural disasters, public health crises, and other catastrophic events or other events outside of our control may affect sales of our products or disrupt our supply chain and have an adverse effect on our business, financial condition and results of operations.
  • Interruption of our manufacturing operations 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.
  • Our share price has been volatile and may fluctuate, and accordingly, the value of an investment in our common stock may also fluctuate.
  • If we are unable to attract or retain key personnel, it could have an adverse effect on our business, financial condition and results from operations.
  • 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.
Management Discussion
  • Refer to Executive Summary for further discussion of our net sales and a comparison of our 2019 and 2018 net sales.
  • In 2018, we generated net sales of $9.823 billion, as compared to $9.048 billion in 2017. This increase of $775 million, or 8.6 percent, included operational growth of 8.0 percent and the positive impact of 60 basis points from foreign currency fluctuations. Operational net sales included approximately $78 million in 2018 due to the acquisitions of Symetis SA (Symetis) in the second quarter of 2017, NxThera, Inc. (NxThera) in the second quarter of 2018, Claret Medical, Inc. (Claret) in the third quarter of 2018 and Augmenix, Inc. (Augmenix) in the fourth quarter of 2018, each with no prior period related net sales.
  • The primary factors contributing to the decrease in our gross profit margin for 2019 as compared to 2018 were the negative impacts of pricing declines related primarily to sales of our coronary drug-eluting stent products, as well as increased levels of scrap associated with recently launched products and excess and obsolete inventory. In addition, in connection with our recent acquisitions, we adjusted acquired inventory from manufacturing cost to fair value. The step-up in value is amortized through gross profit over an average estimated inventory turnover period. In 2019, we recorded increased cost of $46 million associated with these step-ups. This was partially offset by manufacturing cost reductions driven by our process improvement programs as well as favorable foreign currency fluctuations.
Content analysis ?
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