PNC Financial Services Group Inc. Has $112.68 Million Holdings in Boston Scientific Co. (NYSE:BSX)

PNC Financial Services Group Inc. boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 6.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,344,617 shares of the medical equipment provider’s stock after acquiring an additional 83,431 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Scientific were worth $112,679,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. CRA Financial Services LLC boosted its position in Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares during the last quarter. Adero Partners LLC lifted its holdings in shares of Boston Scientific by 3.6% during the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 127 shares during the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of Boston Scientific by 1.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 129 shares during the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of Boston Scientific by 7.4% during the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $90.30 on Wednesday. The business has a fifty day simple moving average of $85.56 and a 200 day simple moving average of $79.84. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $133.09 billion, a price-to-earnings ratio of 74.63, a PEG ratio of 2.56 and a beta of 0.79. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.08.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Sell-side analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BSX. Citigroup lifted their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday. Robert W. Baird lifted their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Raymond James boosted their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their target price on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Profile

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.