Boston Scientific stock price climbs as Penumbra deal stays in focus ahead of Feb. 4 earnings

Boston Scientific Corporation shares dropped 2.18% on Friday, closing at $88.07. It marked their seventh consecutive day of declines, with volume heavier than usual. The S&P 500 slipped 0.06%, the Dow fell 0.17%, and competitors Abbott and Medtronic also finished in the red.

Shares of Boston Scientific Corp dropped 1.8% to $88.44 Friday afternoon, deepening losses following its deal to acquire clot-removal specialist Penumbra. Meanwhile, Penumbra’s stock ticked up 0.3%, reaching $351.62.

Penumbra, Inc. shares jumped 11.8% to $350.49 in after-hours trading Thursday after Boston Scientific announced plans to acquire the clot-removal device maker in a roughly $14.5 billion deal. The stock reached an after-hours high of $369.84 but remained about $23 short of the $374 offer price, reflecting lingering merger risk and time before closing.

Boston Scientific struck a deal to acquire Penumbra for roughly $14.5 billion on Thursday, drawing attention to the medical device sector. This move came amid Verizon’s ongoing outage issues and new earnings reports from Goldman Sachs and Morgan Stanley.

Boston Scientific announced Thursday it will acquire medical device maker Penumbra for roughly $14.5 billion in a cash-and-stock transaction, valuing Penumbra at $374 per share. Penumbra’s shares jumped over 13% in premarket trading. The offer comes at a 19.3% premium to Penumbra’s previous close, Reuters reported.