Why Boston Scientific Shares Fell 10.7% in February
Shares of Boston Scientific (NYSE: BSX) slipped 10.7% in February, according to data provided by S&P Global Market Intelligence, on concern supply disruptions as well as fewer elective surgery procedures in China would hurt the medical device company's earnings.
With the coronavirus outbreak deepening in China, Boston Scientific faces disruption in the production of some of its devices as factories shut down and workers are quarantined. Since the country's priority is dealing with the current crisis, many elective procedures using Boston Scientific devices may be postponed. So far, more than 80,000 cases of COVID-19, the illness caused by this novel coronavirus, have been confirmed in China.
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Source Fool.com
