Boston Scientific : Announces Public Offerings, Shares Move Lower After Hours

By Stephen Nakrosis

Shares of Boston Scientific Corp. are trading lower in Wednesday's after-hours market, following the company's announcement that it commenced offerings of its common stock and its Series A Mandatory Convertible preferred stock.

At 5:28 p.m. EDT, the company's shares had fallen 4.25% to trade at $35.60. Volume in the late-trading session topped 229,000 shares.

The stock finished the day's regular trading session with a 4.94% gain to close at $37.18.

Year to date, shares of the medical devices company are down over 17%.

After the bell Wednesday, Boston Scientific said it commenced concurrent offerings of $750 million of shares of its common stock and $750 million of shares of its Series A Mandatory Convertible Preferred Stock.

--Write to Stephen Nakrosis at [e-mail]