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

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Boston Scientific Co. (NYSE:BSX) saw unusually large options trading on Thursday. Investors acquired 20,426 call options on the stock. This is an increase of approximately 784% compared to the average volume of 2,310 call options.

Shares of Boston Scientific stock traded up $0.25 during trading on Friday, reaching $38.23. 15,183,927 shares of the company were exchanged, compared to its average volume of 6,665,503. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific has a twelve month low of $31.56 and a twelve month high of $43.84. The business has a 50-day moving average price of $41.58 and a 200-day moving average price of $40.29. The firm has a market capitalization of $53.25 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.31 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Boston Scientific had a return on equity of 23.29% and a net margin of 13.85%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Boston Scientific will post 1.56 EPS for the current fiscal year.

In other news, SVP John Bradley Sorenson sold 3,728 shares of Boston Scientific stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $42.30, for a total transaction of $157,694.40. Following the sale, the senior vice president now owns 48,385 shares of the company’s stock, valued at approximately $2,046,685.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $42.62, for a total value of $213,100.00. Following the completion of the sale, the executive vice president now directly owns 29,201 shares in the company, valued at approximately $1,244,546.62. The disclosure for this sale can be found here. Insiders have sold a total of 95,177 shares of company stock worth $3,947,743 in the last three months. 0.66% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. Welch & Forbes LLC grew its stake in Boston Scientific by 0.6% in the third quarter. Welch & Forbes LLC now owns 397,595 shares of the medical equipment provider’s stock valued at $16,179,000 after acquiring an additional 2,375 shares during the period. Pacer Advisors Inc. boosted its position in shares of Boston Scientific by 15.0% during the third quarter. Pacer Advisors Inc. now owns 156,358 shares of the medical equipment provider’s stock worth $6,362,000 after buying an additional 20,342 shares during the period. Artemis Investment Management LLP boosted its position in shares of Boston Scientific by 95.2% during the third quarter. Artemis Investment Management LLP now owns 1,142,569 shares of the medical equipment provider’s stock worth $46,399,000 after buying an additional 557,120 shares during the period. First American Trust FSB boosted its position in shares of Boston Scientific by 1.6% during the third quarter. First American Trust FSB now owns 89,554 shares of the medical equipment provider’s stock worth $3,644,000 after buying an additional 1,367 shares during the period. Finally, CHICAGO TRUST Co NA acquired a new position in shares of Boston Scientific during the third quarter worth about $635,000. 91.47% of the stock is owned by hedge funds and other institutional investors.

BSX has been the topic of several recent analyst reports. Leerink Swann set a $50.00 price target on Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays reiterated an “overweight” rating and issued a $48.00 price objective on shares of Boston Scientific in a research report on Tuesday, September 3rd. Canaccord Genuity lifted their price objective on Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Stephens set a $48.00 price objective on Boston Scientific and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, ValuEngine downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $45.68.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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