Boston Scientific Target of Unusually Large Options Trading (BSX)

Boston Scientific Corporation (NYSE:BSX) was the recipient of some unusual options trading on Tuesday. Stock traders bought 5,848 call options on the company. This represents an increase of approximately 1,042% compared to the typical daily volume of 512 call options.

Shares of Boston Scientific (BSX) opened at $26.28 on Friday. Boston Scientific has a one year low of $19.67 and a one year high of $29.93. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. The company has a market cap of $36,238.64, a price-to-earnings ratio of 21.63, a PEG ratio of 2.04 and a beta of 1.00.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. research analysts predict that Boston Scientific will post 1.25 EPS for the current fiscal year.

In other news, insider Valley Gold Master Fund L. Sun acquired 408,006 shares of the business’s stock in a transaction on Tuesday, November 28th. The shares were acquired at an average cost of $0.45 per share, with a total value of $183,602.70. Also, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $26.66, for a total value of $413,230.00. The disclosure for this sale can be found here. Insiders sold a total of 414,698 shares of company stock worth $12,013,153 in the last quarter. Corporate insiders own 0.74% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Comerica Securities Inc. increased its stake in shares of Boston Scientific by 0.9% during the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock worth $318,000 after purchasing an additional 99 shares in the last quarter. ETRADE Capital Management LLC boosted its position in Boston Scientific by 1.7% during the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 171 shares during the last quarter. BB&T Corp boosted its position in Boston Scientific by 2.8% during the second quarter. BB&T Corp now owns 12,926 shares of the medical equipment provider’s stock worth $359,000 after acquiring an additional 349 shares during the last quarter. Krilogy Financial LLC boosted its position in Boston Scientific by 5.9% during the second quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock worth $213,000 after acquiring an additional 430 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in Boston Scientific by 3.9% in the 2nd quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 523 shares during the last quarter. 90.55% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on BSX. Canaccord Genuity began coverage on shares of Boston Scientific in a report on Tuesday, October 24th. They set a “buy” rating and a $36.00 price target for the company. Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Friday, October 20th. Royal Bank Of Canada restated a “buy” rating and issued a $31.00 price objective on shares of Boston Scientific in a research note on Friday, September 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 target price on shares of Boston Scientific in a research report on Friday, October 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of Boston Scientific in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $30.67.

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Boston Scientific Company Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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