PNC Financial Services Group Inc. Sells 224,145 Shares of Boston Scientific Co. (NYSE:BSX)

PNC Financial Services Group Inc. cut its position in Boston Scientific Co. (NYSE:BSX) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,120,472 shares of the medical equipment provider’s stock after selling 224,145 shares during the period. PNC Financial Services Group Inc. owned approximately 0.08% of Boston Scientific worth $100,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Adero Partners LLC lifted its position in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after acquiring an additional 120 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after purchasing an additional 122 shares in the last quarter. PFG Investments LLC increased its holdings in Boston Scientific by 1.6% in the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 125 shares in the last quarter. Stonegate Investment Group LLC raised its position in Boston Scientific by 1.6% in the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after buying an additional 126 shares during the last quarter. Finally, Ashton Thomas Securities LLC lifted its stake in 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 acquiring an additional 129 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,322 shares of company stock valued at $14,321,068. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Down 1.6 %

Shares of BSX opened at $99.15 on Friday. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17. The company has a 50 day simple moving average of $100.45 and a two-hundred day simple moving average of $91.19. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market cap of $146.33 billion, a P/E ratio of 79.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate 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, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup raised their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

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.