One of Boston Scientific Corp.’s (NYSE:BSX) largest shareholders pared its stake in the medical device maker to a significant degree, selling off 19.3 percent of its position during the second quarter.
Paulson & Co. LLC now owns 80 million BSX shares, or about 5.3 percent of the Natick, Mass.-based firm. That position is worth $464 million, according to a regulatory filing.
The New York-based hedge fund owned nearly 100 million shares worth $715.8 million as of the end of the first quarter, according to a filing with the federal Securities & Exchange Commission. The fund ditched more than 19.1 million shares during the second quarter, according to another SEC filing.
The hedge fund is run by John Paulson, the billionaire financier implicated in the fallout over Goldman Sachs & Co.’s sub-prime mortgage fiasco.
Boston Scientific shares were down nearly 1.9 percent in late-day trading, to $5.84.
