Boston Scientific Sharply Lower After Watchman Insurance Concerns Surface

Boston Scientific BSX shares are trading lower by $0.80 at $18 in Wednesday's session. Traders are attributing the decline to a Wells Fargo note insinuating insurance coverage for the Watchman product may change. Interestingly, the issue sold off in after-hours trading on Tuesday from its close of $18.80 to $18.20 by the 8:00 PM close. That was well ahead of the comments from the Wells Fargo analyst. In today's session, it has found support one penny ahead of its October 29 low ($17.95), but has not able to rebound any higher than $18.27. Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.

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