35.35 +0.13 (0.37%)
After hours: 7:00PM EDT
|Bid||35.26 x 900|
|Ask||35.69 x 3000|
|Day's range||34.24 - 35.27|
|52-week range||24.10 - 46.62|
|Beta (5Y monthly)||0.92|
|PE ratio (TTM)||11.59|
|Earnings date||29 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||43.68|
(Bloomberg) -- Boston Scientific Corp. is exploring a sale of its specialty pharmaceutical business focused on treatments for snake venom, which could fetch close to $1 billion, according to people with knowledge of the matter.The Marlborough, Massachusetts-based medical device maker is working with advisers on the potential sale, said the people, who asked to not be identified because the matter isn’t public.No final decision has been made and Boston Scientific could opt to keep the business, they said.A spokesperson for Boston Scientific declined to comment.Boston Scientific’s shares rose 2.3% to close at $35.22 in New York Tuesday, giving the company a market value of about $50.3 billion.It acquired the business in its $4.2 billion takeover of BTG Plc last year. The company is retaining the other parts of BTG’s portfolio, including liver and kidney cancer treatments.News of the potential divestiture was first reported by Dealreporter.(Updates share price in fifth paragraph, adds Mergermarket credit in last paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of medical device makers Becton Dickinson (NYSE: BDX), Boston Scientific (NYSE: BSX), and Medtronic (NYSE: MDT) fell by double-digit percentages in the first six months of 2020, according to data provided by S&P Global Market Intelligence. BD's shares slid 12%, Medtronic's were down 19.2%, and Boston Scientific's tumbled 22.4% during the six-month period, trailing the S&P 500, which was only down a modest 4%. All three companies are diversified manufacturers of hundreds of different pieces of medical equipment and devices, both high- and low-tech.
The pandemic has slowed sales for the two medical device companies. Which stock is ready to rise when medical procedures return?
Boston Scientific's (BSX) EXALT Model D Single-Use Duodenoscope, approved for a TPT payment class by the CMS, will aid Medicare beneficiaries to enjoy the benefits of new and innovative devices.
Boston Scientific (BSX) introduces tool for local measurement and visualization of tissue response to RF ablation treatment in the United States.
A slowdown in medical procedures due to the COVID-19 pandemic caused a decline in first-quarter profits at medical device maker Boston Scientific (NYSE: BSX), but the company still managed a small sales gain, and management made encouraging comments about the future in its earnings call Wednesday. Boston Scientific said on the conference call that its business in the first two months of the year had been consistent with its expectations, which were for sales growth of 10% to 12%. The company's cardiovascular business ended Q1 with a 5.5% sales gain, medical/surgical sales grew 1.1%, and rhythm and neurological sales, which support procedures that are more easily delayed, fell 7.2%.
(Bloomberg) -- Covid-19 has infected 2 million people around the world as the new coronavirus marked another grim milestone. Governor Andrew Cuomo ordered people in New York to start wearing masks in public.The European Commission has drawn up plans for a partial lifting of restrictions but warned that some will remain until a vaccine or cure is found. Germany is set to extend curbs even after new cases fell for a sixth day.U.S. retail sales tumbled in March by the most on record and factory output dropped by the most since 1946.Key DevelopmentsVirus Tracker: Cases reach 2 million; deaths top 133,000Trump has marathon day of calls with CEOs on how to reopen U.S.China’s data on symptom-free cases reveals most never get sickIndia faces first contraction since 1980, may ease some curbsScientists weigh immunity; hyped Malaria pill doesn’t help in studyU.S. Confirmed Cases Rise 3.5% (4 p.m. NY)U.S. cases rose 3.5% from the day before to 619,607 by Wednesday afternoon, according to data compiled by Johns Hopkins University and Bloomberg News. That was lower than the 6.2% average daily increase over the past week. Deaths increased 10% to 27,760.New York’s cases rose about 0.5%, a sign that the outbreak is stabilizing in the hardest-hit state. Infections were climbing at a rate of 7.6% a week ago.Cases in New Jersey rose 3.2%, the smallest increase since the end of March.South Dakota had the biggest daily increase, with cases rising 18% to 1,168.N.Y. Gets Least Fed Health Grants (2:43 p.m. NY)New York, the state with the most Covid-19 cases, has received the least amount of federal health grants per diagnosed person, according to a Bloomberg Law analysis of some $2.5 billion distributed by the Department of Health and Human Services.The health grants are a fraction of the hundreds of billions the U.S. government is distributing to combat the disease.Grants for New York amount to $802 per person diagnosed with the virus. Alaska, by comparison, ranks second-to-last in total cases but is on tap to receive $111,380 per case.France Has Most Deaths to Date (2:05 p.m. NY)France’s deaths rose by the most yet in figures released on Wednesday, while the number of intensive-care patients dropped for a seventh day.Deaths linked to the virus rose by 1,438 to 17,167 fatalities, Director General For Health Jerome Salomon said in a briefing in Paris. He said the toll wasn’t over a 24-hour period, as the count included fatalities in recent days that weren’t previously reported.N.Y. to Begin Antibody Testing for Essential Workers (1:45 p.m. NY)New York state took an initial step back to normal life, introducing an antibody test to identify medical personnel and other essential workers who have already had the coronavirus and have some immunity, Governor Andrew Cuomo said.The program will run 2,000 of the tests a day, Cuomo said Wednesday at his daily virus briefing. Those who have the antibodies will be allowed to return to work earliest, because they no longer carry the virus and have developed resistance to it.New York has asked the U.S. Food and Drug Administration to expedite approval of an antibody test that could test as many as 100,000 New Yorkers a day, Cuomo said.Merkel Allows Smaller German Shops to Reopen (1:40 p.m. NY)German Chancellor Angela Merkel announced tentative steps to slowly start returning the country to normal, allowing some smaller shops to reopen next week and schools to gradually restart in early May.Most of the restrictive measures will remain in place through May 3 and many aspects of public life will be limited for months to come. Restaurants, gyms and bars will stay closed indefinitely, and no large events such as soccer matches, concerts and festivals will be allowed before the end of August at the earliest.Germany will need to ease restrictions in small steps, Merkel said.New Jersey Deaths Pass 3,000 (1:29 p.m. NY)New Jersey cases topped 3,000 amid a further tapering of new infections.The state reported an additional 351 deaths, bringing the total to 3,156; and another 2,625 cases, the smallest increase since the end of March.Among 21 counties, 18 had cases doubling every seven days or longer. Last month, several counties had doubling every three days.Boston Scientific to Make Low-Cost Ventilator (12:48 p.m. NY)Boston Scientific Corp. will start manufacturing a low-cost ventilator after the U.S. Food and Drug Administration granted the technology an emergency use authorization.The medical-device maker’s partner, the University of Minnesota, said in a release that the Coventor device, conceived by university researchers and an alumnus, is a low-cost backup alternative for doctors.Ventilators are in short supply nationwide as hospitals react to the pandemic. The device has become critical to treat Covid-19 patients.Belgium Extends Lockdown (12:40 p.m. NY)Belgium extended restrictions on its citizens and businesses until May 3, as Prime Minister Sophie Wilmes warned that any loosening of the measures will be very gradual and that nobody can say today when normal life can resume. Mass events such as summer music festivals will be banned until the end of August.The only easing of restrictions, now entering their fifth week, are for home improvement stores, which will be allowed to re-open and elderly in nursing homes can receive single-person visits on strict conditions again. A decision on school re-openings hasn’t been taken.German Lockdown Extended (12:35 p.m. NY)Germany agreed to extend most restrictions on public life into next month while allowing small shops to reopen, underlining the struggle for European governments to balance reactivating slumping economies against fears of a resurgence of the coronavirus.Chancellor Angela Merkel prolonged measures designed to limit the spread of the disease until May 3 after talks Wednesday with the premiers from the country’s 16 states. The leaders also agreed on a reopening of smaller retailers next week as well as gradually reopening school starting with graduating classes early next month.“We have made some progress,” Merkel said. “But I do have to stress that this progress is fragile.”New Italian Cases Drop (12:30 p.m. NY)Italy reported its fewest new coronavirus cases in four and a half weeks as a nationwide lockdown begins to check the spread of the disease. There were 2,667 new cases of the disease, compared with 2,972 a day earlier, the lowest since March 13, civil protection officials said at their daily briefing in Rome. Confirmed cases total 165,155.Italy registered 578 deaths linked to the virus, compared with 602 the day before. That brings the total number of fatalities to 21,645. Hospitalized patients fell the most since the epidemic started and intensive care patients fell for a consecutive 12 days.WHO Defends Work With China (12:05 p.m. NY)The World Health Organization is assessing any funding gaps and will try to fill them with other partners after President Donald Trump said the U.S. will withhold payments because the WHO had been too deferential to China, Director-General Tedros Adhanom Ghebreyesus said at a press briefing in Geneva.“Our mandate is to work to promote health of all people, everywhere,” said Steven Solomon, legal counsel to the WHO. “This means we work with and for all people everywhere, whether they are in Taiwan, China or any other place.”There are millions of cases of atypical pneumonia around the world each year so it was “remarkable” that the cluster of cases in Wuhan was identified, according to Mike Ryan, WHO’s head of health emergencies.WHO member states will review the organization’s performance, which is usual in such circumstances, Tedros said. “No doubt areas for improvement will be identified and there will be lessons for all of us to learn. But for now our focus, my focus, is on stopping this virus and saving lives,” Tedros said.Luxembourg Schools Reopen in May (11:53 a.m. NY)Luxembourg will start a “very prudent” step-by-step relaxation of strict confinement measures next week as the number of new infections is gradually going back, the nation’s premier Xavier Bettel said at a press conference Wednesday.Wearing a mask or an alternative mouth protection in public will be mandatory as of April 20, if a two meter distance is not possible, he said. Secondary schools will reopen May 11, with students split into groups that will alternate between home and physical schooling. Primary schools and nurseries are expected to reopen on May 25 if numbers of infections remain stable until then, Bettel said.Cyprus Reopening Runs to 2021 (11:30 a.m. NY)Cyprus’s government approved a plan to lift restrictions and restart the economy in three phases, state-run Cyprus News Agency said. Businesses in key sectors of the economy will begin gradually reopening beginning in May. The third stage focuses on restarting the economy and is envisioned to run from September through the end of 2021, CNA said, citing an interview with the finance minister.Cyprus has 695 confirmed cases of Covid-19, according to Johns Hopkins University.NYC May Lose 475,000 Jobs (10:35 a.m. NY)New York City may lose 475,000 jobs and run $9.7 billion short on tax revenue through mid-2021 because of the coronavirus outbreak, the city’s Independent Budget Office estimated.Retail employment will take the biggest hit, followed by hotels and restaurants, and the arts, entertainment and recreation industries.Although finance and professional services are also expected to see declines in employment, the IBO projects the most severe job losses will be disproportionately concentrated in sectors with low- and moderate-paying jobs. The only major sector of the city economy likely to avoid job losses over the next year is health care.Coronavirus Infections Reach 2 Million (10:10 a.m. NY)The new coronavirus has infected 2 million people around the world, a grim milestone exposing the difficulty of trying to contain the deadly pathogen.What began as a mysterious pneumonia-like illness in Wuhan, China, late last year has morphed into a global health crisis that has threatened health systems and economies alike.It took about four months for the virus to infect 1 million people and only 12 days for that number to double. The total case count today is likely even higher than 2 million, with countries including the U.S. testing only a fraction of their populations.Greece Extends Flight Ban (9:33 a.m. NY)Greece is extending a temporary ban on all flights to and from Italy, Spain, Turkey, the U.K. and the Netherlands by a month to May 15 to prevent the spread of the coronavirus, the country’s civil aviation authority said. Flights to and from Germany are only allowed via Athens Airport.Exceptions include cargo and humanitarian flights. The temporary restriction on non-European Union citizens from entering Greece is also extended with certain exceptions including for family members of European citizens.Abbott Has Test to Detect Prior Infections (9:01 a.m. NY)Abbott Laboratories will start shipping a test that can identify people who have recovered from a coronavirus infection even if they never developed symptoms Thursday, a step that will help public-health officials track the spread as politicians move toward reopening economies.Mayor Hopeful NYC Back to ‘More Like Normal’ By Sept. (8:14 a.m. NY)“By September, then we are hopeful we could be back to something more like normal, but the way we get there is with that smart, cautious approach,” Bill de Blasio said in Fox interview.Portugal Has Most New Cases in Five Days; Dutch Drop (8:13 a.m. NY)Portugal reported the biggest increase in new confirmed cases in five days, while the number of hospitalized patients fell. There were 643 new infections, taking the total to 18,091, the government said on Wednesday. Deaths rose to 599 from 567.New cases in the Netherlands dropped for the fifth consecutive day since the country reported a record number on April 10. Cases rose by 734, or 3%, to 28,153, in line with Tuesday’s record low growth rate. Fatalities climbed 6%, a steeper rate than the previous days because of a reporting backlog over the Easter weekend.China Car Sales Rise for First Time Since Pandemic (7:55 a.m. NY)Consumers bought an average of 33,400 vehicles a day last week, up 14% from a year ago, though sales were still down 12% for the first two weeks of April, the China Passenger Car Association said in a statement. The head of the group warned that it’s unclear whether the increases will be sustainable.France Expects G-20 to Offer African Nations Moratorium on Debt (7:50 a.m. NY)France expects Group of 20 nations will agree to a debt moratorium for African nations in a conference call later Wednesday, an official at the Elysee palace said. President Emmanuel Macron has been pushing for debt relief to support African nations caught up in the Covid-19 pandemic and on Monday called for a massive cancellation of Africa’s sovereign debt.Goldman’s Investment Portfolio Takes a Hit (7:43 a.m. NY)Goldman Sachs Group Inc. has Wall Street’s biggest investment portfolio, a boast that became a liability in the first quarter as fallout from the coronavirus weighed on the firm’s holdings. The business took an almost $900 million hit that contributed to a 46% decline in profit, even as it included gains from pending private-equity sales. A strong showing in the trading operations, the firm’s biggest division, helped counter the damage as market volatility boosted demand for trading services.Japan Considering $930 Cash Handouts (7:39 a.m. NY)Prime Minister Shinzo Abe’s coalition ally, Natsuo Yamaguchi of the Komeito party, proposed making the 100,000 yen payments across the board, without income limits, Chief Cabinet Secretary Yoshihide Suga told reporters Wednesday. Japan has so far promised larger payments of 300,000 yen ($2,800), but limited them to those who can prove a substantial loss of income.BofA Joins Rival Banks in Setting Aside Billions for Loan Losses (6:57 a.m. NY)Bank of America Corp. joined rivals in setting aside billions of dollars for loans likely to sour amid an almost total U.S. economic shutdown. Profit plunged 45% as the company allocated $4.76 billion for loan losses, the most since 2010, as businesses and households reel from the coronavirus pandemic.The bank follows competitors JPMorgan Chase & Co. and Wells Fargo & Co., which posted their highest provisions in a decade Tuesday. Citigroup Inc. on Wednesday set aside $7.03 billion to cover potential losses on loans.Banks are trying to get ahead of loan losses they expect to come from the pandemic bringing large swaths of the global economy to a virtual standstill. While defaults haven’t yet spiked in a meaningful way, bank efforts to build up their reserves show they’re bracing for a severe recession.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Unfortunately for some shareholders, the Boston Scientific (NYSE:BSX) share price has dived 35% in the last thirty...
Today we're going to take a look at the well-established Boston Scientific Corporation (NYSE:BSX). The company's stock...
(Bloomberg) -- Democratic presidential candidates Bernie Sanders and Elizabeth Warren have a promise for workers who would lose jobs under their Medicare-for-All plans. They’ll be taken care of, with billions set aside for retraining. As Warren’s campaign website puts it: “No worker will be left behind.”Tell it to Bob Stein, who sells health benefit plans to employers near Minneapolis.“I’m 55 years old. What am I going to do? Sell cars?”The government-run health plan endorsed by Sanders would so radically transform the health care system that it’s unlikely to be enacted swiftly should he became president, even if Democrats also controlled Congress. That may not matter in Minnesota, a traditionally Democratic state awash in health system work, including the highest percentage of insurance-related and medical device jobs in the country. It’s a place where employment is a strong counter-argument to a cheaper, simpler health-care system, whether it’s a fast transition championed by Sanders or the slower rollout now envisioned by Warren: Why would you vote for someone who wants to take away your job?Retraining promises don’t fix that, said Stein, who’s been in the business since 1986. It’s “the same kind of thing Hillary Clinton said that made people so mad,” he said, referring to the 2016 Democratic presidential candidate’s infamous remarks about putting coal miners out of business. “These are professional level jobs they’re talking about.”Medicare for All’s potential job impact could be a distant warning bell for the Democratic Party as primary season takes off. While Minnesota voters have gone for just three Republican nominees in 88 years, President Donald Trump’s campaign is treating it as a swing state. Trump lost it to Clinton by 1.5 percentage points, or about 45,000 votes, in 2016. Minnesota’s insurance-related and medical device employment is concentrated in blue counties, including Hennepin County, which includes Minneapolis and is home to United Health Group, the largest insurance company by revenue.It’s not only Minnesota, of course, that would see labor market disruptions if the single-payer dream became reality. Medicare for All would make a vast army of workers unnecessary even if it leaves many households better off.2 Million Lost JobsThere’s an unlikely parallel for the policy debate over universal healthcare. The free-trade agreements of the 1990s also promised broadly shared benefits — but as it turned out, they came at the expense of wrenching change concentrated in some industries and regions.Medicare for All, supporters say, would save money for most households — and save lives among the millions who don’t have health insurance. On the flip side, there would be no need for health insurance brokers, underwriters, claims processors, customer service reps, and bill collectors. Even some health care professionals could lose work. University of Massachusetts economist Robert Pollin predicts roughly 2 million lost jobs nationally.Pollin supports single-payer. He says it will eliminate a “massive amount of administrative waste,” which inevitably means lost jobs.Those claiming a new government-run system would absorb those workers are fooling themselves, he said. Single-payer “won’t save money unless there are major lay offs. For supporters such as myself, it’s a burden to recognize that, be honest about it and then take the next step.”Insurance jobs won’t be the only losses, according to Katherine Baicker, dean of University of Chicago Harris School of Public Policy. Some health professionals will — and should — lose jobs, she said.“If the goal is to make health care more available, more efficient and less expensive, that means we actually should be spending less money on people in health care,” Baicker said.‘Back at the bedside’Lower government reimbursements will hit hospitals that now get two-thirds of their revenue -- and all their profits -- from the third of patients with higher-paying commercial insurance, said Sam Glick, a partner with the New York-based Oliver Wyman consulting firm. Higher customer volume and lower administrative expenses likely won’t be enough to avoid job cuts, he said.“Nursing is one of the few middle class jobs left. I think that’s one we see hit,” he said.That’s news to the Minnesota Nurses Association, which is all in on single-payer.On an icy evening in St. Paul, at a storefront office overlooking the state capitol, association director Rose Roach talks excitedly about single-payer moving nurses out of insurance call centers where many work now.“From the nurses’ point of view, they would like those people back at the bedside and actually providing health care, as opposed to sitting in a cubicle reviewing some one’s case from a distance,” she said.Health care employs 12.6% of Minnesotans and insurance carriers another 1.4%, according to state data. The jobs run the gamut, said Shaye Mandle, president of The Medical Alley Association, a trade group whose members employ more than a half-million Minnesotans in health fields ranging from huge companies to startups, many in Hennepin County.“United Health alone has 30,000 employees here,” said Mandle. “We have the most densely concentrated medical device employment in the country. Medtronic and Boston Scientific, that’s another 10,000 each.”What that means for Minnesota’s presidential race is an open question. Democrats need Hennepin, which produced nearly half of Minnesota’s 2016 turnout and gave Clinton nearly 10 times more votes than her statewide victory margin. Olmstead County, home to Mayo Clinic, the state’s biggest employer, chose Clinton narrowly. So did St. Louis County, where United Health has a massive call center.Still, “I don’t think a lot of Minnesota citizens connect the dots about jobs,” said Molly Jungbauer, whose consulting company does a third of its business with insurance companies. Voters are more concerned about high health care costs, she said.Those voters count, said U.S. Representative Angie Craig, a Democrat who beat a Republican incumbent and former right-wing talk show host in 2018. Although she doesn’t support Medicare for All, she said health care costs are her top issue because it’s “the number one thing my constituents talk to me about.”Michael Bloomberg is seeking the Democratic presidential nomination. He is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.State Senator John Marty, a longtime single-payer supporter, also believes jobs will take a back seat to health-cost concerns. “Jobs will be a big hit,” he said. “It’s a very important issue that we have to address. And we have.”But he believes Medicare for All could win back rural voters who went for Trump: “The easiest way to get them is to drive down the rural highways and see the signs for Saturday night fundraisers for the so-and-so family’s kid with leukemia.”Read more: Improving the prognosis of health care in the USA \--With assistance from Alexandre Tanzi.To contact the author of this story: Margaret Newkirk in Atlanta at email@example.comTo contact the editor responsible for this story: Sarah McGregor at firstname.lastname@example.org, Anita SharpeBen HollandFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The yearly results for Boston Scientific Corporation (NYSE:BSX) were released last week, making it a good time to...
Boston Scientific (BSX) is steadily investing in new technologies as well as the global markets, reflecting its uptick in sales across most geographies in Q4.
Despite the ongoing US-China trade war, increased focus on innovation is likely to have driven performance of medical products players' quarterly performance.
Boston Scientific (BSX) delivered earnings and revenue surprises of 4.55% and -0.62%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Boston Scientific (BSX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Banking on an innovative portfolio across structural heart and coronary therapies, Boston Scientific's (BSX) IC business is expected to have registered strong sales in Q4.
Despite the ongoing US-China trade war, solid growth in emerging markets is likely to have contributed to the performance of the players in the medical products space this earnings season.
A series of product launches despite the ongoing regulatory hurdles is likely to favor revenues in the medical products space this earnings season.
Today we are going to look at Boston Scientific Corporation (NYSE:BSX) to see whether it might be an attractive...
Growth in the COPD devices market can be attributed to factors like steadily rising geriatric population, increasing incidence of smoking and chronic respiratory diseases.