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MarketScreener Homepage  >  Equities  >  Nyse  >  Boston Scientific Corporation    BSX

BOSTON SCIENTIFIC CORPORATION

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Boston Scientific : Raises $1.69 Billion in Upsized Offerings

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05/22/2020 | 06:42am EDT

By Colin Kellaher

 

Boston Scientific Corp. said it priced upsized public offerings of about 25.6 million common shares at $34.25 apiece and 8.75 million shares of Series A 5.5% mandatory convertible preferred stock at $100 each.

The Marlborough, Mass., maker of medical devices late Thursday said it expects net proceeds of $847.3 million from each offering, or a total of roughly $1.69 billion, adding that the total could rise to $1.95 billion if the underwriters exercise their options to buy an additional 3.83 million common shares and 1.31 million preferred shares.

Boston Scientific previously said it planned to sell $750 million each of common and preferred stock.

The company said it plans to use part of the funds to repay the $750 million outstanding under its $1.25 billion term-loan credit facility maturing in April 2021, which it will then terminate.

Share of Boston Scientific, which had about 1.4 billion shares outstanding before the offerings, closed Thursday at $34.79, down 6.4% on the day.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

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Financials (USD)
Sales 2020 9 695 M - -
Net income 2020 446 M - -
Net Debt 2020 7 980 M - -
P/E ratio 2020 130x
Yield 2020 -
Capitalization 53 434 M 53 434 M -
EV / Sales 2019
EV / Sales 2020 6,33x
Nbr of Employees 36 000
Free-Float 85,0%
Chart BOSTON SCIENTIFIC CORPORAT
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Technical analysis trends BOSTON SCIENTIFIC CORPORAT
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Average target price 42,85 $
Last Close Price 37,50 $
Spread / Highest target 33,3%
Spread / Average Target 14,3%
Spread / Lowest Target -22,7%
EPS Revisions
Managers
NameTitle
Michael F. Mahoney Chairman, President & Chief Executive Officer
Edward F. Mackey Executive Vice President-Operations
Daniel J. Brennan Chief Financial Officer & Executive Vice President
Ian T. Meredith Global Chief Medical Officer & Executive VP
Jodi Eddy Chief Information Officer & SVP
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