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

Boston Scientific Co. (NYSE:BSX) was the target of unusually large options trading on Tuesday. Stock traders acquired 12,998 put options on the company. This represents an increase of 1,597% compared to the typical volume of 766 put options.

In related news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.10, for a total transaction of $185,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 64,223 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $40.84, for a total value of $2,622,867.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 342,352 shares of company stock valued at $13,696,184. Company insiders own 0.66% of the company’s stock.

Several large investors have recently made changes to their positions in the company. AlphaCrest Capital Management LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at $2,071,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at $497,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Boston Scientific in the first quarter valued at $78,000. Marietta Investment Partners LLC grew its position in shares of Boston Scientific by 2.4% in the first quarter. Marietta Investment Partners LLC now owns 116,629 shares of the medical equipment provider’s stock valued at $4,476,000 after purchasing an additional 2,760 shares during the period. Finally, MML Investors Services LLC grew its position in shares of Boston Scientific by 28.9% in the first quarter. MML Investors Services LLC now owns 27,122 shares of the medical equipment provider’s stock valued at $1,041,000 after purchasing an additional 6,078 shares during the period. 91.61% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE BSX traded down $0.49 during trading on Friday, reaching $36.58. The company had a trading volume of 7,190,269 shares, compared to its average volume of 7,851,303. Boston Scientific has a twelve month low of $29.42 and a twelve month high of $41.00. The stock has a market cap of $50.41 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 2.20 and a beta of 0.83. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.54 billion. Boston Scientific had a return on equity of 24.65% and a net margin of 18.08%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that Boston Scientific will post 1.56 EPS for the current year.

Several research analysts have weighed in on the company. Argus lifted their target price on Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Canaccord Genuity reiterated a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a research note on Monday, February 11th. Guggenheim reiterated a “buy” rating and issued a $48.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. SunTrust Banks reissued a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a report on Friday, February 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a report on Wednesday, February 6th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.77.

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About Boston Scientific

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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