Boston Scientific Cut to Sell; Shares Drop

Boston Scientific shares were down 2.8% at $6.60 in premarket trading Tuesday after being downgraded to sell by Goldman Sachs.

Author:: Andrea Tse
Publish date:: Mar 16, 2010 7:35 AM EDT

NEW YORK (

TheStreet

) --

Boston Scientific

(BSX) - Get Report

shares were down 2.8% to $6.60 in premarket trading Tuesday after being downgraded by

Goldman Sachs

Boston Scientific stock fell 12.6% to close at $6.80 at the end of Monday's trading session.

Goldman Sachs slashed its recommendation for Boston Scientific to conviction sell from neutral after the company announced Monday it would stop shipping certain defibrillators because it made certain documentation errors in a Food and Drug Administration filing.

The devices make up 15% of total company revenue, according to the

Associated Press

-- Reported by Andrea Tse in New York

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