Rochester,NY 7/7/2009 2:28:15 AM
End of Day - BSX -RPT-BUY OR SELL-Is new CEO reason to buy Boston Scientific?- Sourced WhisperFromWallStreet.com
Boston Scientific Corporation
End of Day - BSX -RPT-BUY OR SELL-Is new CEO reason to buy Boston Scientific?- Sourced WhisperFromWallStreet.com
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Boston Scientific Corporation.BSX
After Hours: 9.73 Down 0.13 (1.32%) 3:23PM ET
Boston Scientific shares are holding just under their 8-month-highs after the medical device maker said that it retained industry veteran Ray Elliott to take the reins from long-time CEO Jim Tobin.
The announcement, greeted enthusiastically by Wall Street, came on the back of news a week earlier that a Boston Scientific-sponsored clinical trial met its main goal.
For the past few years, Boston Scientific, which acquired its cardiac rhythm management business when it bought Guidant Corp in 2006, has been beset by a heavy debt load, product recalls and trouble with health regulators, resulting in lost market share. Shares stumbled to levels not seen since 1998.
Recently, the company shed some of its non-core businesses, using the proceeds to pay down debt. It has also resolved its major quality issues with regulators, clearing the way for some successful cardiac rhythm management product launches.
About
Boston Scientific Corporation operates as a developer, manufacturer, and marketer of medical devices used in various interventional medical specialties worldwide. Its products help physicians and other medical professionals improve the patients? quality of life by providing alternatives to surgery. The company?s cardiovascular group consists of drug-eluting and bare-metal stents, coronary revascularization products, Intraluminal ultrasound imaging catheters and systems, Embolic protection system, peripheral and neurovascular interventions, electrophysiology devices, and cardiac rhythm management devices. This group?s products are used to treat cardiovascular, peripheral vascular and neurovascular diseases, cardiac arrhythmias, and neuro and aortic aneurysms. Its endosurgery group includes esophageal, gastric, and duodenal intervention products; colorectal, pancreatico-biliary, and pulmonary intervention devices; and products for urinary tract intervention and bladder disease, prostate intervention, pelvic floor reconstruction and urinary incontinence, and gynecology. This group?s products are used for the treatment of gastrointestinal diseases, esophagitis, portal hypertension, peptic ulcers, esophageal cancer, polyps, inflammatory bowel disease.
Last Trade: 9.75
Day's Range: 9.75 - 9.99
52wk Range: 5.41 - 14.20
Volume: 5,403,580
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