Traders Purchase High Volume of Call Options on Boston Scientific (NYSE:BSX)

Boston Scientific Corporation (NYSE:BSX) was the target of some unusual options trading on Tuesday. Stock investors acquired 111,780 call options on the company. This is an increase of 661% compared to the average daily volume of 14,694 call options.

Insider Activity at Boston Scientific

In related news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the transaction, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This represents a 42.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 93,095 shares of company stock worth $9,305,450. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after purchasing an additional 226 shares during the period. CX Institutional lifted its stake in Boston Scientific by 1.9% in the second quarter. CX Institutional now owns 8,860 shares of the medical equipment provider’s stock valued at $952,000 after buying an additional 165 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Boston Scientific by 8.4% in the second quarter. Farther Finance Advisors LLC now owns 13,079 shares of the medical equipment provider’s stock valued at $1,405,000 after buying an additional 1,017 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Boston Scientific by 7.6% during the second quarter. Park Avenue Securities LLC now owns 49,581 shares of the medical equipment provider’s stock worth $5,325,000 after acquiring an additional 3,499 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of Boston Scientific by 7.8% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 4,529 shares of the medical equipment provider’s stock valued at $486,000 after acquiring an additional 326 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent research reports. Canaccord Genuity Group decreased their price target on shares of Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. BTIG Research reiterated a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a research note on Friday, November 21st. UBS Group reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, December 17th. Truist Financial lowered their target price on Boston Scientific from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $123.89.

Boston Scientific Trading Up 3.5%

BSX opened at $91.16 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. Boston Scientific has a one year low of $85.98 and a one year high of $109.50. The company has a market cap of $135.14 billion, a P/E ratio of 48.75, a PEG ratio of 1.56 and a beta of 0.67. The business’s 50-day simple moving average is $96.42 and its 200-day simple moving average is $100.06.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. As a group, equities research analysts expect that Boston Scientific will post 2.85 EPS for the current fiscal year.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.