Boston Scientific Corp. Files 10-Q for Period Ending March 31, 2024

AI Summary

BOSTON SCIENTIFIC CORP (BSX) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Boston Scientific Corp. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's headquarters are located at 300 Boston Scientific Way, Marlborough, MA. The SEC file number for Boston Scientific Corp. is 001-11083. The SIC code for the company is 3841 (Surgical & Medical Instruments & Apparatus).

Why It Matters

For investors and stakeholders tracking BOSTON SCIENTIFIC CORP, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data and operational updates for Boston Scientific Corp., crucial for assessing the company's current performance and future outlook. Understanding the details within this report is essential for making informed investment decisions regarding Boston Scientific Corp. (BSX) stock.

Risk Assessment

Risk Level: low — BOSTON SCIENTIFIC CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine updates.

Analyst Insight

Monitor future filings for specific financial performance metrics and segment growth to evaluate the company's strategic execution.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-01 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Fiscal Period Start Date)
• 2023-03-31 — Prior Year Quarter End Date (Prior Year Quarter End Date)

Key Players & Entities

• BOSTON SCIENTIFIC CORP (company) — FILER
• 300 BOSTON SCIENTIFIC WAY (address) — BUSINESS ADDRESS
• MARLBOROUGH (location) — BUSINESS ADDRESS CITY
• MA (state) — BUSINESS ADDRESS STATE
• 01752-1234 (zip_code) — BUSINESS ADDRESS ZIP
• 508-683-4000 (phone_number) — BUSINESS PHONE
• 001-11083 (sec_file_number) — SEC FILE NUMBER
• 3841 (sic_code) — STANDARD INDUSTRIAL CLASSIFICATION

FAQ

Industry Context

Boston Scientific operates in the medical devices industry, specifically focusing on surgical and medical instruments and apparatus.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze segment performance and revenue growth trends in subsequent reports.
3. Compare key financial metrics against industry peers and historical performance.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share BSX New York Stock Exchange

Filing Documents

• bsx-20240331.htm (10-Q) — 1565KB
• exhibit101-bscx2024grantxn.htm (EX-10.1) — 296KB
• exhibit102-bscx2024grantxr.htm (EX-10.2) — 252KB
• exhibit103-bscx2024grantxt.htm (EX-10.3) — 101KB
• exhibit104-bscx2024grantxo.htm (EX-10.4) — 101KB
• exhibit22-subsidiaryissuer.htm (EX-22) — 3KB
• exhibit311-ceo302q12024.htm (EX-31.1) — 20KB
• exhibit312-cfo302q12024.htm (EX-31.2) — 20KB
• exhibit321-ceo906q12024.htm (EX-32.1) — 11KB
• exhibit322-cfo906q12024.htm (EX-32.2) — 11KB
• image_0a.jpg (GRAPHIC) — 17KB
• image_1.jpg (GRAPHIC) — 3KB
• image_2.jpg (GRAPHIC) — 8KB
• image_0.jpg (GRAPHIC) — 17KB
• 0000885725-24-000046.txt ( ) — 10288KB
• bsx-20240331.xsd (EX-101.SCH) — 53KB
• bsx-20240331_cal.xml (EX-101.CAL) — 82KB
• bsx-20240331_def.xml (EX-101.DEF) — 265KB
• bsx-20240331_lab.xml (EX-101.LAB) — 757KB
• bsx-20240331_pre.xml (EX-101.PRE) — 493KB
• bsx-20240331_htm.xml (XML) — 1700KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 ITEM 4.

Controls and Procedures

Controls and Procedures 51 PART II OTHER INFORMATION 52 ITEM 1.

Legal Proceedings

Legal Proceedings 52 ITEM 1A.

Risk Factors

Risk Factors 52 ITEM 5. Other Information 52 ITEM 6. Exhibits 52 SIGNATURE 54 2 Table of Contents PART I FINANCIAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS BOSTON SCIENTIFIC CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended March 31, (in millions, except per share data) 2024 2023 Net sales $ 3,856 $ 3,389 Cost of products sold 1,209 1,040 Gross profit 2,648 2,349 Operating expenses: Selling, general and administrative expenses 1,364 1,215 Research and development expenses 366 337 Royalty expense 10 11 Amortization expense 214 203 Contingent consideration net expense (benefit) 17 12 Restructuring net charges (credits) 3 20 1,973 1,797 Operating income (loss) 675 552 Other income (expense): Interest expense ( 69 ) ( 65 ) Other, net 2 ( 43 ) Income (loss) before income taxes 608 444 Income tax expense (benefit) 115 131 Net income (loss) 493 314 Preferred stock dividends — ( 14 ) Net income (loss) attributable to noncontrolling interests ( 1 ) — Net income (loss) attributable to Boston Scientific common stockholders $ 495 $ 300 Net income (loss) per common share — basic $ 0.34 $ 0.21 Net income (loss) per common share — diluted $ 0.33 $ 0.21 Weighted-average shares outstanding Basic 1,468.4 1,435.8 Diluted 1,481.7 1,446.0 Refer to notes to the unaudited consolidated financial statements. Amounts may not foot due to rounding. 3 Table of Contents BOSTON SCIENTIFIC CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) Three Months Ended March 31, (in millions) 2024 2023 Net income (loss) $ 493 $ 314 Other comprehensive income (loss), net of tax: Foreign currency translation adjustment 57 ( 42 ) Net change in derivative financial instruments 22 ( 43 ) Net change in defined benefit pensions and other items ( 0 ) ( 5 ) Other comprehensive income (loss) 78 ( 91 ) Comprehensive income (loss) $ 572 $ 223 Comprehensive income (loss) attributable to noncontrolling interests ( 6 ) — Comprehensive income attributable to Boston Scientific common st

View Full Filing

View this 10-Q filing on SEC EDGAR