Why Boston Scientific Shares Fell 12.7% in March
Shares of Boston Scientific (NYSE: BSX) slipped 12.7% in March, according to data provided by S&P Global Market Intelligence, as investors anticipated a slowdown in its business due to the outbreak of COVID-19, the illness caused by the novel coronavirus.
Boston Scientific, a maker of devices such as stents and catheters, on Feb. 5 -- when the health crisis remained primarily in China -- predicted delayed medical procedures and supply chain disruptions would hurt business there. At that time, the company estimated the coronavirus in China could have a $10 million to $40 million negative impact on its sales in the first quarter.
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Source Fool.com
