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

Boston Scientific Co. (NYSE:BSXGet Free Report) was the target of unusually large options trading activity on Thursday. Investors bought 17,026 call options on the stock. This represents an increase of approximately 161% compared to the typical daily volume of 6,534 call options.

Insiders Place Their Bets

In other news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles J. Dockendorff sold 3,946 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold a total of 82,330 shares of company stock worth $5,682,434 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. FMR LLC grew its holdings in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after buying an additional 2,336,348 shares during the period. Primecap Management Co. CA raised its stake in shares of Boston Scientific by 1.5% during the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares during the period. Finally, Morgan Stanley lifted its position in shares of Boston Scientific by 2.3% during the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after buying an additional 481,891 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $73.69 on Friday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $74.39. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm has a market cap of $108.11 billion, a P/E ratio of 61.92, a P/E/G ratio of 2.50 and a beta of 0.77. The business’s 50 day moving average price is $68.95 and its 200 day moving average price is $61.90.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BSX. TD Cowen boosted their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Royal Bank of Canada increased their price target on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Mizuho lifted their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Citigroup boosted their price objective on shares of Boston Scientific from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird raised their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Three 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. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $75.09.

View Our Latest Analysis on Boston Scientific

Boston Scientific Company Profile

(Get Free Report)

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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