Boston Scientific Corp. (BSX)
The Company develops, manufactures & markets medical devices that are used in interventional cardiology, peripheral interventions, vascular surgery, electrophysiology, neurovascular intervention, oncology, endoscopy, urology, gynecology & neuromodulation.
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Considering he sold off $150 million of his stock in Boston Scientific a week and a half prior to reporting their 3rd quarter results, which comes out today. I would have hated to see him hold on to that to show confidence in the company....I mean, it's hard enough to make it by on $150 million anymore. NO CONFIDENCE...
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This company is in for huge sell offs and more layoffs. How did they think they could get away with it for so long. What goes around ,comes around...Asta la vista baby..
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This company has been propelling itself on hot air for too long now. They are knee-deep on debt at a time when no one wants to be in debt. A P/E ratio of 16.88 here is a little inflated for a company as weak as this one is at the moment. They are losing market share across the board to more streamlined medical upstarts. They paid far too much for Guidant. Overall, this is an ailing company at a time when you don't want to be an ailing company. I expect the current P/E to retreat to around 12, with this share price declining to $8. Things will get worse for this company before they get better, if they ever get better.
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This stock has just reached a 5 year low and I don't think this is anywhere near the bottom for this company.
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Well it now went under $10.00 per share. How can stcok scouter still rate this piece of crap a "9". Did somebody invert the scale rating.
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Future earnings are looking very bleak, the competiton has beaten them up and thye are trying to survive with very little capital. Look for worse times to come..
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On Wednesday about 13 million shares owned by co-founders Pete Nicholas and John Abele and their families were sold.These sales are related to personal planning objectives.Shares of Boston Scientific dropped to a 52-week low Thursday a day after the sell-off. Management warned that a financial meltdown is possible "in the near future."
Shares of the Natick, Mass.-based company fell 70 cents, or 7.8 percent, to $8.25 in trading Thursday. A day earlier, shares fell 10 percent.
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Top of the "STOCKS TO AVOID" list.
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Major holders were very fortunate they unloaded before they lost even more...
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Yuck. Perhaps Nicholas and Abele should be grateful that they were forced to sell.
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Jim Jubak's new column, he sees a far gloomier outlook than he had predicted earlier . . . .
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Abbott Labs will have be the stent leader by the end of 2009. Boston Scientific will be selling off more assets to rid themselves of debt. 2009 will bring heavy layoffs for Miami, Ireland and Natick as the loose the very profitable business of the stent market.
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The Cleveland Clinic is putting drug-coated stents from multiple suppliers in its cardiologists' hands for the next year to let doctors try the latest devices, but it appears industry heavyweight Boston Scientific Corp. isn't in the mix.
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RESEARCHERS REPORT THE DRUGS ARE JUST AS EFFECTIVE AS STENTS, RECENT RECALLS OF STENTS DUE TO A DEFECT THAT CAUSES A PART OF THE DEVICE TO BREAK OFF DURING SURGERY CAUSING STROKE OR DEATH, AND NOW THE DATA THEY SUPPLY TO THE FDA IS HIGHLY QUESTIONABLE...I SEE MORE LAYOFFS BEFORE 2009.
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It's 3rd quarter is looking like a rerun of the 1st and 2nd. Things are not looking good when the founders are selling off 34 million shares and they are buried in debt.
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Leaner Boston Scientific Isn't Looking Healthy
Investors are rightfully growing weary of Boston Scientific's ability to cut expenses on flat sales, and they sent the stock down 11% yesterday
Boston Scientific claims to have lost five points of market share in the States. It did see a drop of 30% in domestic stent sales
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Time to get out of the fire. I can't handle any more news about patent infringement or how Abbott will be eating their lunch. I am going to bail before this turkey goes under $10.00 a share.
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I see big sell offs of much of their capital investments and many new layoffs. This company is buried in debt and full of financial problems.
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Another big debt of 703 million added to the 300 million dollar hole they are already in. This company is starting to sound like the national debt. I need no more convincing that this was a bad, bad, bad investment. Holy SHi#$&& I just lost another $2780 while I was writing this comment. Time to call my broker and sell. Gotta go......
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Say you’re struggling with falling sales as part of a sector-wide downturn. You’ve also got a heavy debt burden from a big acquisition you made a few years back. Then, the capper: A judge says you have to pay $703 million to your archrival to settle an 11-year-old lawsuit over a product you stopped selling four years ago.
This is what it is like for a company that is headed for the "CRAPPER", formerly named Boston Scientific.

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