Traders Purchase High Volume of Call Options on Boston Scientific (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) saw unusually large options trading activity on Monday. Traders acquired 16,833 call options on the company. This represents an increase of 78% compared to the average daily volume of 9,470 call options.

Boston Scientific Trading Up 1.9 %

NYSE BSX opened at $91.44 on Tuesday. The company has a market cap of $135.25 billion, a P/E ratio of 73.15, a P/E/G ratio of 2.79 and a beta of 0.73. Boston Scientific has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a 50-day moving average of $101.68 and a 200-day moving average of $93.76.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Boston Scientific will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

BSX has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays boosted their target price on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. UBS Group raised their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada boosted their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $108.91.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of Boston Scientific stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the sale, the executive vice president now owns 26,449 shares of the company’s stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,183 shares of company stock worth $13,948,476. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. TFC Financial Management Inc. raised its position in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC grew its stake in shares of Boston Scientific by 1,625.0% in the fourth 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 in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the 4th quarter worth approximately $26,000. Finally, Dunhill Financial LLC boosted its holdings in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during the period. 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.