Stock Traders Buy Large Volume of Put Options on Boston Scientific (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) was the target of unusually large options trading on Friday. Stock investors acquired 8,128 put options on the stock. This represents an increase of 14% compared to the typical volume of 7,144 put options.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $1.34 during trading hours on Friday, reaching $76.89. The stock had a trading volume of 2,790,347 shares, compared to its average volume of 6,143,336. The firm has a market capitalization of $112.81 billion, a PE ratio of 64.24, a PEG ratio of 2.66 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $78.98. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $76.13 and its 200 day moving average is $69.53.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Equities analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BSX shares. Citigroup increased their price target on Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Raymond James boosted their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 25th. Evercore ISI raised their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Finally, Barclays boosted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.29.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently made changes to their positions in BSX. Louisiana State Employees Retirement System acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $5,116,000. Sierra Summit Advisors LLC purchased a new stake in Boston Scientific in the 4th quarter valued at $8,038,000. TD Asset Management Inc increased its stake in shares of Boston Scientific by 10.7% in the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after acquiring an additional 155,565 shares during the last quarter. HealthInvest Partners AB acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after acquiring an additional 73,219 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Boston Scientific

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.