Boston Scientific Sees Unusually Large Options Volume (NYSE:BSX)

Boston Scientific Corporation (NYSE:BSX) saw unusually large options trading on Monday. Traders bought 212,430 call options on the company. This represents an increase of 527% compared to the average volume of 33,884 call options.

Boston Scientific Trading Down 1.1%

Shares of BSX stock traded down $0.47 on Tuesday, reaching $43.85. 2,035,806 shares of the company’s stock were exchanged, compared to its average volume of 18,690,063. The company’s fifty day simple moving average is $44.66 and its 200 day simple moving average is $56.63. Boston Scientific has a 52 week low of $39.57 and a 52 week high of $105.65. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $63.55 billion, a PE ratio of 18.58, a P/E/G ratio of 1.04 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. Boston Scientific had a return on equity of 18.73% and a net margin of 16.62%. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the company posted $0.75 EPS. Boston Scientific’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, analysts forecast that Boston Scientific will post 3.17 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director David Habiger bought 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average cost of $47.59 per share, with a total value of $99,939.00. Following the completion of the acquisition, the director owned 17,160 shares in the company, valued at $816,644.40. This trade represents a 13.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BSX. United Advisor Group LLC acquired a new stake in Boston Scientific during the 3rd quarter worth $218,000. May Hill Capital LLC grew its holdings in shares of Boston Scientific by 1.8% during the third quarter. May Hill Capital LLC now owns 37,526 shares of the medical equipment provider’s stock worth $1,638,000 after buying an additional 651 shares in the last quarter. Waycross Partners LLC grew its holdings in shares of Boston Scientific by 13.7% during the third quarter. Waycross Partners LLC now owns 308,313 shares of the medical equipment provider’s stock worth $13,458,000 after buying an additional 37,083 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Boston Scientific by 37.5% in the third quarter. Alps Advisors Inc. now owns 45,249 shares of the medical equipment provider’s stock valued at $1,975,000 after buying an additional 12,329 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Boston Scientific by 15.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 5,748 shares of the medical equipment provider’s stock valued at $251,000 after buying an additional 765 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BSX. BTIG Research reduced their price objective on Boston Scientific from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Oppenheimer cut Boston Scientific from an “outperform” rating to a “market perform” rating in a report on Thursday, October 29th. Wells Fargo & Company cut their target price on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. Rothschild & Co Redburn cut their target price on Boston Scientific from $106.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft set a $48.00 price target on Boston Scientific and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.43.

About Boston Scientific

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.