Boston Scientific Target of Unusually Large Options Trading (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) saw unusually large options trading activity on Tuesday. Investors purchased 20,981 put options on the stock. This is an increase of approximately 64% compared to the typical daily volume of 12,760 put options.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BSX. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Truist Financial boosted their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $114.74.

Boston Scientific Stock Performance

Shares of BSX stock traded down $0.53 during trading on Tuesday, reaching $106.13. 4,301,531 shares of the company’s stock were exchanged, compared to its average volume of 7,659,166. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $99.39 and its 200-day moving average price is $96.90. Boston Scientific has a twelve month low of $71.88 and a twelve month high of $107.17. The stock has a market capitalization of $157.02 billion, a PE ratio of 84.76, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its quarterly 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 business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This represents a 22.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,163 shares of company stock valued at $27,129,540 in the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Mechanics Bank Trust Department acquired a new stake in Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new stake in Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $3,405,000. Beacon Investment Advisory Services Inc. raised its holdings in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after buying an additional 4,702 shares in the last quarter. Finally, Oak Harvest Investment Services lifted its holdings in shares of Boston Scientific by 262.5% in the fourth quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider’s stock worth $3,642,000 after acquiring an additional 29,526 shares during the last quarter. 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.