Investors Purchase High Volume of Boston Scientific Put Options (NYSE:BSX)

Boston Scientific Co. (NYSE:BSX) saw some unusual options trading activity on Wednesday. Investors purchased 13,251 put options on the stock. This is an increase of approximately 52% compared to the typical volume of 8,745 put options.

Boston Scientific Stock Performance

NYSE BSX traded down $0.44 during trading on Wednesday, hitting $100.80. The company’s stock had a trading volume of 4,314,888 shares, compared to its average volume of 7,047,469. Boston Scientific has a 52 week low of $66.80 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market cap of $149.09 billion, a P/E ratio of 80.64, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm has a 50 day moving average price of $102.21 and a 200 day moving average price of $93.43.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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 forecast that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BSX. Mechanics Bank Trust Department bought a new position in shares of Boston Scientific during the 4th quarter worth about $415,000. Highland Capital Management LLC acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $3,405,000. Brookstone Capital Management raised its holdings in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after buying an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its position in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after buying an additional 4,702 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley upped their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Royal Bank of Canada increased their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Two equities 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. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average 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.