Why Boston Scientific Stock Was Sliding This Week
Boston Scientific (NYSE: BSX) stock was tumbling notably this week. Management admitted weakness in one of the medical device maker's product lines. This, combined with several bearish analyst adjustments, was pushing the shares down by 15% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.
On Wednesday, at this year's Bernstein's Annual Strategic Decisions Conference, Boston Scientific CEO Mike Mahoney said sales of its Watchman line of heart implants might be stagnating.
He added that revenue from these formerly thriving products is likely to be flat sequentially in both the current second quarter and the following frame. The CEO attributed this to a shift toward concomitant rather than stand-alone procedures.
Source Fool.com
