Boston Scientific Sees Unusually High Options Volume (BSX)

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Boston Scientific Co. (NYSE:BSX) was the recipient of unusually large options trading activity on Tuesday. Traders bought 12,998 put options on the company. This represents an increase of 1,597% compared to the average volume of 766 put options.

In other news, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $38.82, for a total value of $194,100.00. Following the transaction, the executive vice president now directly owns 29,201 shares in the company, valued at $1,133,582.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maulik Nanavaty sold 3,039 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $37.81, for a total transaction of $114,904.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,352 shares of company stock worth $13,701,434. Company insiders own 0.66% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. West Oak Capital LLC lifted its position in shares of Boston Scientific by 40.0% during the fourth quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 300 shares during the last quarter. Quad Cities Investment Group LLC raised its position in shares of Boston Scientific by 9.6% in the 4th quarter. Quad Cities Investment Group LLC now owns 3,424 shares of the medical equipment provider’s stock valued at $123,000 after purchasing an additional 300 shares during the last quarter. Scotia Capital Inc. raised its position in shares of Boston Scientific by 4.3% in the 4th quarter. Scotia Capital Inc. now owns 7,240 shares of the medical equipment provider’s stock valued at $256,000 after purchasing an additional 300 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Boston Scientific by 4.8% in the 4th quarter. Quadrant Capital Group LLC now owns 6,532 shares of the medical equipment provider’s stock valued at $215,000 after purchasing an additional 302 shares during the last quarter. Finally, Kalos Management Inc. raised its position in shares of Boston Scientific by 1.0% in the 4th quarter. Kalos Management Inc. now owns 31,123 shares of the medical equipment provider’s stock valued at $1,099,000 after purchasing an additional 315 shares during the last quarter. 91.70% of the stock is owned by institutional investors and hedge funds.

BSX stock opened at $36.17 on Wednesday. The stock has a market cap of $52.57 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.21 and a beta of 0.87. Boston Scientific has a one year low of $27.91 and a one year high of $41.00. The company has a quick ratio of 0.54, a current ratio of 0.76 and a debt-to-equity ratio of 0.55.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.57 billion. Boston Scientific had a net margin of 17.01% and a return on equity of 25.92%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. Analysts predict that Boston Scientific will post 1.55 earnings per share for the current year.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Boston Scientific in a research note on Monday, February 11th. Argus upped their price objective on shares of Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Boston Scientific in a research note on Wednesday, February 6th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Boston Scientific in a research note on Friday, February 8th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Boston Scientific has an average rating of “Buy” and an average target price of $40.80.

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Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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