BlackRock Pares 6% From Boston Scientific Corporation Stake

BlackRock Inc., the mammoth hedge fund, pares its stake in medical device company Boston Scientific by nearly 6%. Mammoth hedge fund BlackRock Inc. cut more than 4.5 million shares from its stake in medical device company Boston Scientific (NYSE:BSX), regulatory filings show. BlackRock said it owned about 74.0 million shares as of July 31, according to the filings, down from 78.5 million as of Dec. 30, 2011. The hedge fund now owns about 4.8% of Natick, Mass.-based Boston Scientific, representing a 5.8% cut. The selloff might have been fueled by the medical device company's swing to 2nd-quarter losses last month.