Stock Traders Purchase Large Volume of Boston Scientific Put Options (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) was the target of some unusual options trading on Tuesday. Stock investors acquired 20,981 put options on the company. This represents an increase of 64% compared to the average daily volume of 12,760 put options.

Boston Scientific Trading Down 0.1%

Shares of BSX opened at $106.52 on Wednesday. Boston Scientific has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market cap of $157.59 billion, a PE ratio of 85.22, a PEG ratio of 2.79 and a beta of 0.68. The stock has a 50 day simple moving average of $99.61 and a 200-day simple moving average of $96.97.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, sell-side analysts predict that Boston Scientific will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSX. Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Robert W. Baird boosted their target price on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. BTIG Research restated a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Needham & Company LLC upped their price target on Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Finally, Truist Financial increased their target price on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has an average rating of “Buy” and an average target price of $114.74.

Insider Activity

In other news, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,830 shares of company stock worth $20,043,415. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC lifted its stake in Boston Scientific by 12.0% in the fourth quarter. Park Avenue Securities LLC now owns 12,869 shares of the medical equipment provider’s stock valued at $1,149,000 after purchasing an additional 1,381 shares during the last quarter. Procyon Advisors LLC bought a new position in Boston Scientific in the fourth quarter valued at $208,000. HB Wealth Management LLC increased its stake in Boston Scientific by 5.9% in the fourth quarter. HB Wealth Management LLC now owns 30,036 shares of the medical equipment provider’s stock valued at $2,683,000 after acquiring an additional 1,676 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Boston Scientific in the fourth quarter valued at $658,000. Finally, Grove Bank & Trust boosted its position in Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after buying an additional 122 shares during the period. 89.07% of the stock is owned by institutional investors.

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.