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

Boston Scientific Co. (NYSE:BSX) was the target of unusually large options trading activity on Monday. Investors purchased 21,280 call options on the company. This is an increase of approximately 298% compared to the typical daily volume of 5,352 call options.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of 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. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 in the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BSW Wealth Partners grew its holdings in Boston Scientific by 2.3% during the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after buying an additional 165 shares in the last quarter. Allstate Corp grew its holdings in Boston Scientific by 2.9% during the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after buying an additional 165 shares in the last quarter. First Affirmative Financial Network grew its holdings in Boston Scientific by 4.3% during the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after buying an additional 166 shares in the last quarter. Valley National Advisers Inc. grew its holdings in Boston Scientific by 2.3% during the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock valued at $435,000 after buying an additional 170 shares in the last quarter. Finally, Aveo Capital Partners LLC grew its holdings in Boston Scientific by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock valued at $742,000 after buying an additional 171 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $68.99 on Wednesday. The stock has a market cap of $101.22 billion, a PE ratio of 64.48, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $69.21. The firm has a fifty day moving average price of $67.39 and a 200-day moving average price of $60.19. 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 (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion during 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 in the prior year, the company posted $0.45 earnings per share. Equities analysts anticipate that Boston Scientific will post 2.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Citigroup lifted their target price on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI lifted their target price on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, TD Cowen lifted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Two investment 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. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

About Boston Scientific

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.