Wall Street Was Wrong About Boston Scientific

And things could get even worse, as Wall Street did not like the firm's decision to not sell off a stake in its endosurgery unit. The debt load and legal liabilities from the Guidant deal were expected, though perhaps not to this extent. What was not expected was that sales of ICDs and, especially, drug-eluting stents would fall off -- the latter in response to concerns about clotting unknown at the time of the deal. The endosurgery business has no such problems, which is why Boston Scientific wants to hold onto it for now. Wall Street analysts would prefer the firm sell a stake in it to raise money to pay down debt, but their track record on what's best for the company hasn't been very good recently, now, has it?