Stock Traders Purchase Large Volume of Call Options on Boston Scientific (NYSE:BSX)

Key Points

• Call-option activity surged: Traders purchased 212,430 Boston Scientific call options, roughly 527% above the average volume of 33,884.
• Analyst sentiment remains cautiously positive: Several firms cut their price targets or downgraded the stock, but Boston Scientific still carries a “Moderate Buy” consensus rating with a $61.43 average target.
• Shares traded at $44.00 after rising $2.02, while the company’s latest quarterly results met earnings expectations and exceeded revenue estimates, with year-over-year revenue growth of 1.4%.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) saw unusually large options trading activity on Monday. Stock traders bought 212,430 call options on the company. This represents an increase of approximately 527% compared to the average volume of 33,884 call options.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BSX shares. Oppenheimer downgraded shares of Boston Scientific from an "outperform" rating to a "market perform" rating in a report on Thursday. Piper Sandler decreased their price target on Boston Scientific from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, July 29th. Evercore lowered their price objective on Boston Scientific from $65.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. BTIG Research dropped their price objective on Boston Scientific from $56.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut Boston Scientific from an "overweight" rating to a "neutral" rating and set a $46.00 target price for the company. in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.43.

Insiders Place Their Bets

In other news, Director David Habiger purchased 2,100 shares of the stock in a transaction on Wednesday, August 5th. The shares were acquired at an average price of $47.59 per share, with a total value of $99,939.00. Following the completion of the acquisition, the director directly owned 17,160 shares of the company's stock, valued at $816,644.40. This trade represents a 13.94% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently added to or reduced their stakes in BSX. Avantax Planning Partners Inc. grew its holdings in shares of Boston Scientific by 4.0% in the first quarter. Avantax Planning Partners Inc. now owns 5,242 shares of the medical equipment provider's stock valued at $329,000 after purchasing an additional 201 shares in the last quarter. WPG Advisers LLC raised its stake in Boston Scientific by 11.9% during the first quarter. WPG Advisers LLC now owns 1,916 shares of the medical equipment provider's stock valued at $120,000 after purchasing an additional 203 shares in the last quarter. Natural Investments LLC raised its stake in Boston Scientific by 1.3% during the second quarter. Natural Investments LLC now owns 16,067 shares of the medical equipment provider's stock valued at $685,000 after purchasing an additional 206 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in Boston Scientific by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 6,468 shares of the medical equipment provider's stock valued at $406,000 after purchasing an additional 223 shares during the last quarter. Finally, MGO One Seven LLC lifted its position in Boston Scientific by 1.9% during the third quarter. MGO One Seven LLC now owns 14,061 shares of the medical equipment provider's stock valued at $614,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

NYSE BSX traded up $2.02 on Monday, reaching $44.00. The company had a trading volume of 6,222,079 shares, compared to its average volume of 18,692,396. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $63.77 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.22 and a beta of 0.58. The firm's 50 day moving average price is $44.78 and its 200 day moving average price is $56.88. Boston Scientific has a 12 month low of $39.57 and a 12 month high of $105.65.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a net margin of 16.62% and a return on equity of 18.73%. The business's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, equities analysts predict that Boston Scientific will post 3.17 earnings per share for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.

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