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

Boston Scientific Co. (NYSE:BSX) saw unusually large options trading activity on Thursday. Stock traders purchased 17,026 call options on the stock. This is an increase of 161% compared to the typical daily volume of 6,534 call options.

Boston Scientific Stock Up 1.6 %

Shares of NYSE:BSX traded up $1.14 during midday trading on Thursday, reaching $73.86. The company had a trading volume of 2,320,578 shares, compared to its average volume of 6,547,098. The stock has a market capitalization of $108.36 billion, a P/E ratio of 61.11, a PEG ratio of 2.51 and a beta of 0.77. The stock’s fifty day moving average price is $68.68 and its 200-day moving average price is $61.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific has a one year low of $48.35 and a one year high of $74.39.

Analyst Upgrades and Downgrades

BSX has been the topic of several research analyst reports. Mizuho raised their target price on shares of Boston Scientific from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Robert W. Baird lifted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Oppenheimer lifted their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.09.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. Insiders have sold 82,330 shares of company stock valued at $5,682,434 in the last ninety days. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently modified their holdings of BSX. Eagle Bay Advisors LLC lifted its stake in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. RiverPark Advisors LLC bought a new position in shares of Boston Scientific in the 1st quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $31,000. YHB Investment Advisors Inc. bought a new stake in shares of Boston Scientific during the 1st quarter valued at about $32,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Boston Scientific during the fourth quarter worth about $28,000. Institutional investors 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.