Shares of Boston Scientific Corp. (NYSE:BSX) traded at unusually high volumes for two straight weeks during the recent roller coast on Wall Street, coming in at more than 120 million trades during the week ending July 29 and topping 140 million the week ending August 5.
This week is shaping up to top even those numbers, with nearly 121 million shares traded by Thursday.
BSX shares dipped below $6 per share for the first time in almost a year this week, going for $5.91 on Wednesday.
Since reporting its second-quarter earnings July 28, shares of BSX have dropped by more than 19 percent. While stocks are down across the board due to a nightmare stretch of heavy selling on The Street, BSX’s losses are more severe than those of the Dow Jones Industrial Average, which lost about 12 percent over the same period.
Boston Scientific, which ranked 10th on the MassDevice Big 100 list of the world’s largest medical device companies, is hardly alone. Over the same period, BSX competitor Medtronic Inc. (NYSE:MDT) watched its shares drop 15 percent; St. Jude Medical (NYSE:STJ) fell 13 percent and Abbott (NYSE:ABT) shares slid 9 percent.
Medtronic’s shares traded at a volume of more than 61 million shares in the week ended August 5, well above the company’s usual range around 20 million to 35 million per week.
St. Jude traded around 23 million shares that week, compared to its usual range of 10 million to 18 million.
Abbot traded at nearly 62 million shares that week, where it’s usual range is 30 million to 40 million.