Abstract: A device and method for retrieving balloon expandable stents. The device can be used with a guide catheter having a balloon angioplasty catheter inserted within. The invention includes a grasping device at the distal end of a shaft and a means for closing the grasping device. In one embodiment, the grasping device includes a reinforced tube having a bound inner sleeve, two inflatable inner balloons and a longitudinal slit. In use, the tube can be slipped over the proximal portion of a balloon catheter shaft extending from a patient, compressed to reduce the profile, advanced over the shaft, through and distally out of a guide catheter, allowed to recover the original profile, advanced over a stent, inflated to grasp the stent distal end within, and retracted proximally into the guide catheter.