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

PNC Financial Services Group Inc. trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 about 0.08% of Boston Scientific worth $100,081,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its position in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider's stock worth $2,750,385,000 after purchasing an additional 718,515 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider's stock worth $2,469,607,000 after purchasing an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Boston Scientific by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider's stock worth $756,990,000 after purchasing an additional 456,654 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock worth $518,138,000 after purchasing an additional 1,028,977 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research firms have recently weighed in on BSX. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a report on Friday, January 10th. Wells Fargo & Company increased their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. TD Cowen increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.91.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific 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 transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

BSX stock traded up $0.90 on Wednesday, hitting $96.42. The company had a trading volume of 8,790,877 shares, compared to its average volume of 5,775,970. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock's 50-day simple moving average is $100.66 and its 200 day simple moving average is $91.49. The stock has a market cap of $142.29 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Company 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.