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

Boston Scientific Co. (NYSE:BSX) was the target of some unusual options trading activity on Monday. Stock investors bought 17,842 call options on the stock. This represents an increase of approximately 116% compared to the typical volume of 8,263 call options.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.16 during trading hours on Monday, reaching $88.23. 2,051,154 shares of the company’s stock were exchanged, compared to its average volume of 5,937,517. The business has a fifty day moving average price of $82.49 and a 200-day moving average price of $77.22. The stock has a market capitalization of $129.44 billion, a P/E ratio of 74.66, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific has a fifty-two week low of $49.15 and a fifty-two week high of $88.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts predict that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BSX. Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Capital World Investors boosted its holdings in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after purchasing an additional 360,793 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after buying an additional 1,824,405 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Boston Scientific by 15.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after buying an additional 1,027,543 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BSX. Morgan Stanley increased their price objective on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup boosted their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. TD Cowen lifted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Finally, Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $90.24.

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.