Boston Scientific Corporation (NYSE:BSX – Get Free Report) was the target of some unusual options trading on Monday. Stock investors purchased 212,430 call options on the company. This represents an increase of 527% compared to the average volume of 33,884 call options.
Analyst Upgrades and Downgrades
BSX has been the subject of a number of analyst reports. Sanford C. Bernstein lowered their price target on Boston Scientific from $54.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of Boston Scientific from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Jefferies Financial Group downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and reduced their target price for the company from $60.00 to $46.00 in a research note on Wednesday. Needham & Company LLC reduced their target price on shares of Boston Scientific from $57.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Finally, Robert W. Baird raised their target price on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $61.43.
Get Our Latest Stock Report on Boston Scientific
Boston Scientific Trading Up 4.8%
BSX stock traded up $2.02 during trading on Monday, hitting $44.00. The company had a trading volume of 6,222,079 shares, compared to its average volume of 18,692,396. Boston Scientific has a 52-week low of $39.57 and a 52-week high of $105.65. The company has a 50 day simple moving average of $44.78 and a 200-day simple moving average of $56.88. The firm has a market capitalization of $63.77 billion, a P/E ratio of 18.66, a PEG ratio of 1.22 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.
Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. Boston Scientific had a net margin of 16.62% and a return on equity of 18.73%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. As a group, research analysts forecast that Boston Scientific will post 3.17 earnings per share for the current fiscal year.
Insider Activity
In related news, Director David Habiger acquired 2,100 shares of the stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average cost of $47.59 per share, with a total value of $99,939.00. Following the purchase, the director directly owned 17,160 shares of the company’s stock, valued at approximately $816,644.40. This trade represents a 13.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.
Institutional Trading of Boston Scientific
Large investors have recently modified their holdings of the company. Kelleher Financial Advisors bought a new position in Boston Scientific in the second quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in Boston Scientific during the 1st quarter valued at $28,000. Nvwm LLC lifted its holdings in shares of Boston Scientific by 526.2% in the 3rd quarter. Nvwm LLC now owns 645 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 542 shares during the period. Rakuten Securities Inc. purchased a new stake in shares of Boston Scientific in the 2nd quarter worth $30,000. Finally, Kings Path Partners LLC purchased a new stake in shares of Boston Scientific in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.
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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