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

Boston Scientific Co. (NYSE:BSX - Get Free Report) saw unusually large options trading activity on Wednesday. Stock traders bought 13,251 put options on the company. This represents an increase of approximately 52% compared to the average volume of 8,745 put options.

Boston Scientific Stock Up 1.9 %

Shares of BSX traded up $1.74 during mid-day trading on Monday, hitting $91.44. 14,176,108 shares of the company traded hands, compared to its average volume of 6,220,047. The business has a 50 day moving average of $101.90 and a 200 day moving average of $93.71. The company has a market capitalization of $135.25 billion, a PE ratio of 73.15, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a 1-year low of $66.80 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities research analysts anticipate that Boston Scientific will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares of the company's stock, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now directly owns 28,454 shares of the company's stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,183 shares of company stock worth $13,948,476. Company insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific in the fourth quarter worth $25,000. Colonial Trust Co SC raised its stake in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares during the last quarter. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares during the last quarter. Sunbeam Capital Management LLC purchased a new position in Boston Scientific during the fourth quarter valued at approximately $26,000. Finally, Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group boosted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Truist Financial boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Argus set a $130.00 price target on Boston Scientific in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $108.91.

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.