Traders Buy 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. Stock investors purchased 21,280 call options on the company. This represents an increase of approximately 298% compared to the typical volume of 5,352 call options.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific 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 completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were 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 owns 271,542 shares in the company, valued at $17,883,756.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

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

Boston Scientific Stock Up 0.7 %

Shares of BSX traded up $0.46 during trading hours on Monday, reaching $67.79. The company’s stock had a trading volume of 2,364,323 shares, compared to its average volume of 6,320,463. The firm has a market cap of $99.45 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 2.36 and a beta of 0.78. The company has a 50 day moving average of $67.25 and a two-hundred day moving average of $59.96. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.45 EPS. As a group, research analysts predict that Boston Scientific will post 2.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BSX shares. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Raymond James upped their price objective on shares of Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Evercore ISI upped their price objective 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, JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

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.