Stock Traders Buy High Volume of Boston Scientific Put Options (BSX)

Boston Scientific Corporation (NYSE:BSX) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 13,236 put options on the stock. This represents an increase of approximately 1,240% compared to the average daily volume of 988 put options.

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

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. Boston Scientific’s revenue was up 5.6% on a year-over-year basis. equities research analysts expect that Boston Scientific will post 1.25 EPS for the current fiscal year.

BSX has been the topic of a number of research reports. Canaccord Genuity lowered their price objective on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Group reaffirmed a “hold” rating on shares of Boston Scientific in a report on Thursday, September 7th. BMO Capital Markets reissued a “buy” rating and set a $30.00 price target on shares of Boston Scientific in a report on Friday, October 13th. J P Morgan Chase & Co reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.67.

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 stock was bought at an average price of $0.45 per share, for a total transaction of $183,602.70. Also, EVP Michael P. Phalen sold 15,500 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $28.72, for a total transaction of $445,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,698 shares of company stock valued at $12,013,153. Company insiders own 0.74% of the company’s stock.

Several hedge funds have recently modified their holdings of BSX. Comerica Securities Inc. grew its stake in shares of Boston Scientific by 0.9% in 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 during the last quarter. ETRADE Capital Management LLC boosted its position in Boston Scientific by 1.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock valued at $279,000 after acquiring an additional 171 shares in the last quarter. BB&T Corp boosted its position in Boston Scientific by 2.8% during the 2nd quarter. BB&T Corp now owns 12,926 shares of the medical equipment provider’s stock valued at $359,000 after acquiring an additional 349 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Boston Scientific by 5.9% in the 2nd quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock worth $213,000 after purchasing an additional 430 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of 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 worth $382,000 after purchasing an additional 523 shares in the last quarter. Institutional investors own 90.55% of the company’s stock.

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About Boston Scientific

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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