Boston Scientific Sees Unusually High Options Volume (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) saw some unusual options trading on Monday. Stock traders acquired 21,280 call options on the stock. This represents an increase of approximately 298% compared to the typical daily volume of 5,352 call options.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Boston Scientific in the fourth quarter valued at $930,626,000. FMR LLC increased its position in shares of Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after acquiring an additional 8,045,263 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Capital World Investors boosted its holdings in Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares during the period. Finally, American Century Companies Inc. increased its stake in Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after buying an additional 2,606,253 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BSX. Needham & Company LLC raised their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, Raymond James upped their target price on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $68.50.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $68.02 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $69.21. The stock has a market capitalization of $99.79 billion, a P/E ratio of 63.57, a PEG ratio of 2.36 and a beta of 0.78. The business has a 50 day simple moving average of $67.31 and a two-hundred day simple moving average of $60.07.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the firm posted $0.45 EPS. As a group, analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.