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

Boston Scientific Co. (NYSE:BSX) was the recipient of unusually large options trading on Thursday. Stock traders acquired 17,026 call options on the company. This is an increase of approximately 161% compared to the typical volume of 6,534 call options.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold a total of 82,330 shares of company stock valued at $5,682,434 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC boosted its position in Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after acquiring an additional 8,045,263 shares during the last quarter. Vanguard Group Inc. boosted its position in Boston Scientific by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock worth $7,252,253,000 after acquiring an additional 1,681,454 shares during the last quarter. Wellington Management Group LLP boosted its position in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after acquiring an additional 2,336,348 shares during the last quarter. Primecap Management Co. CA boosted its position in Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after acquiring an additional 550,490 shares during the last quarter. Finally, Morgan Stanley boosted its position in Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after acquiring an additional 481,891 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BSX shares. TD Cowen raised their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Barclays raised their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Mizuho raised their price objective on Boston Scientific from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Needham & Company LLC raised their price objective on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Stock Performance

BSX traded up $1.14 on Thursday, reaching $73.86. The stock had a trading volume of 2,320,578 shares, compared to its average volume of 6,547,098. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $68.68 and its two-hundred day moving average price is $61.74. The company has a market cap of $108.36 billion, a P/E ratio of 61.11, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77.

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.