PNC Financial Services Group Inc. Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

PNC Financial Services Group Inc. lowered its position in Boston Scientific Co. (NYSE:BSX) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,120,472 shares of the medical equipment provider’s stock after selling 224,145 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Scientific were worth $100,081,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Boston Scientific by 18.1% in the third quarter. Van ECK Associates Corp now owns 57,894 shares of the medical equipment provider’s stock worth $5,063,000 after purchasing an additional 8,882 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after acquiring an additional 815,403 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Boston Scientific by 5.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,724 shares of the medical equipment provider’s stock valued at $815,000 after acquiring an additional 530 shares during the period. M&G PLC bought a new position in Boston Scientific in the 3rd quarter valued at $1,327,000. Finally, Capital Performance Advisors LLP purchased a new stake in Boston Scientific in the third quarter worth $30,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BSX shares. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Stifel Nicolaus raised their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Trading Down 1.6 %

Boston Scientific stock opened at $99.15 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a market cap of $146.33 billion, a PE ratio of 79.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The stock has a 50-day moving average of $100.45 and a two-hundred day moving average of $91.19. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. The trade was a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,322 shares of company stock worth $14,321,068 over the last three months. 0.50% of the stock is currently owned by insiders.

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.