Traders Purchase High Volume of Put Options on Boston Scientific (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) was the target of some unusual options trading on Wednesday. Stock investors acquired 12,824 put options on the company. This represents an increase of approximately 41% compared to the average volume of 9,068 put options.

Boston Scientific Stock Performance

BSX opened at $85.11 on Friday. The stock has a market cap of $124.86 billion, a PE ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a 1 year low of $49.15 and a 1 year high of $88.79. The stock’s 50 day simple moving average is $83.19 and its 200-day simple moving average is $77.57.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Sell-side analysts forecast that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was 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 directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by corporate insiders.

Institutional Trading of Boston Scientific

Several institutional investors have recently bought and sold shares of BSX. Park Avenue Securities LLC boosted its stake in Boston Scientific by 12.8% in the 1st quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock valued at $852,000 after buying an additional 1,413 shares in the last quarter. Brookstone Capital Management boosted its stake in Boston Scientific by 35.0% in the first quarter. Brookstone Capital Management now owns 14,300 shares of the medical equipment provider’s stock worth $979,000 after purchasing an additional 3,710 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Boston Scientific by 10.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 66,024 shares of the medical equipment provider’s stock worth $4,522,000 after purchasing an additional 6,485 shares in the last quarter. Tlwm acquired a new position in Boston Scientific in the first quarter worth $927,000. Finally, 180 Wealth Advisors LLC boosted its stake in Boston Scientific by 36.5% in the first quarter. 180 Wealth Advisors LLC now owns 5,621 shares of the medical equipment provider’s stock worth $385,000 after purchasing an additional 1,504 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the topic of a number of research reports. TD Cowen increased their price objective on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday. Barclays lifted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup increased their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.