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

Key Points

• Boston Scientific saw a significant spike in options trading, with investors purchasing 22,241 call options, a 54% increase over the average daily volume.
• Multiple analysts have raised their price targets for Boston Scientific, with Barclays increasing its target to $136 and Robert W. Baird setting a new target at $128, reflecting strong positive sentiment towards the stock.
• Insiders at Boston Scientific have sold a considerable number of shares recently, including 50,000 shares sold by EVP Joseph Michael Fitzgerald, representing a significant decrease in ownership in the company.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 22,241 call options on the stock. This is an increase of approximately 54% compared to the average daily volume of 14,417 call options.

Analysts Set New Price Targets

BSX has been the topic of a number of recent research reports. Barclays raised their price target on shares of Boston Scientific from $133.00 to $136.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Evercore ISI restated an "outperform" rating on shares of Boston Scientific in a research report on Wednesday. Robert W. Baird raised their price target on shares of Boston Scientific from $123.00 to $128.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $121.00 price target on shares of Boston Scientific in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus price target of $121.71.

Insider Buying and Selling at Boston Scientific

In related news, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares of the company's stock, valued at approximately $222,646.19. This trade represents a 58.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total transaction of $4,923,500.00. Following the sale, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $17,561,336.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,214 shares of company stock worth $17,972,457 over the last three months. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds have recently made changes to their positions in the business. DSM Capital Partners LLC grew its stake in shares of Boston Scientific by 39.2% in the 3rd quarter. DSM Capital Partners LLC now owns 3,977 shares of the medical equipment provider's stock worth $388,000 after purchasing an additional 1,119 shares during the last quarter. Crews Bank & Trust grew its stake in shares of Boston Scientific by 11.6% in the 3rd quarter. Crews Bank & Trust now owns 1,061 shares of the medical equipment provider's stock worth $104,000 after purchasing an additional 110 shares during the last quarter. Kathmere Capital Management LLC grew its stake in shares of Boston Scientific by 3.3% in the 3rd quarter. Kathmere Capital Management LLC now owns 5,110 shares of the medical equipment provider's stock worth $499,000 after purchasing an additional 164 shares during the last quarter. Spirepoint Private Client LLC grew its stake in shares of Boston Scientific by 4.9% in the 3rd quarter. Spirepoint Private Client LLC now owns 86,080 shares of the medical equipment provider's stock worth $8,404,000 after purchasing an additional 4,053 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its stake in shares of Boston Scientific by 39.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider's stock worth $5,065,000 after purchasing an additional 14,700 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Price Performance

Boston Scientific stock traded up $3.76 during trading hours on Wednesday, hitting $103.66. 17,745,392 shares of the company traded hands, compared to its average volume of 9,818,059. The firm has a market cap of $153.60 billion, a P/E ratio of 61.70, a P/E/G ratio of 2.40 and a beta of 0.61. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm's 50-day simple moving average is $101.19 and its two-hundred day simple moving average is $101.83. Boston Scientific has a 1-year low of $80.64 and a 1-year high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analysts' expectations of $4.97 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. Boston Scientific's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. As a group, analysts forecast that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

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.

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