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

PNC Financial Services Group Inc. raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,033 shares of the medical equipment provider’s stock after purchasing an additional 5,030 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Scientific were worth $2,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BSX. Quad Cities Investment Group LLC increased its stake in Boston Scientific by 9.6% in the 4th quarter. Quad Cities Investment Group LLC now owns 3,424 shares of the medical equipment provider’s stock worth $123,000 after buying an additional 300 shares during the period. Scotia Capital Inc. increased its position in Boston Scientific by 4.3% during the 4th quarter. Scotia Capital Inc. now owns 7,240 shares of the medical equipment provider’s stock valued at $256,000 after purchasing an additional 300 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Boston Scientific by 60.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Kalos Management Inc. boosted its holdings in shares of Boston Scientific by 1.0% in the 4th quarter. Kalos Management Inc. now owns 31,123 shares of the medical equipment provider’s stock valued at $1,099,000 after buying an additional 315 shares in the last quarter. Finally, Kaizen Advisory LLC boosted its holdings in shares of Boston Scientific by 10.1% in the 4th quarter. Kaizen Advisory LLC now owns 3,632 shares of the medical equipment provider’s stock valued at $128,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 90.80% of the company’s stock.

Shares of BSX stock opened at $40.80 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39. The stock has a market cap of $57.25 billion, a PE ratio of 27.76, a PEG ratio of 2.44 and a beta of 0.75. Boston Scientific Co. has a twelve month low of $31.55 and a twelve month high of $41.99.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. As a group, analysts forecast that Boston Scientific Co. will post 1.55 earnings per share for the current year.

BSX has been the topic of a number of recent analyst reports. Argus raised their price target on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. Canaccord Genuity lowered their price target on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. BTIG Research restated a “buy” rating on shares of Boston Scientific in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a report on Monday, May 13th. Finally, Evercore ISI upgraded shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price for the company in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Boston Scientific presently has an average rating of “Buy” and a consensus target price of $41.87.

In other news, SVP Maulik Nanavaty sold 3,038 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $40.11, for a total transaction of $121,854.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $38.82, for a total transaction of $194,100.00. Following the transaction, the executive vice president now directly owns 29,201 shares in the company, valued at approximately $1,133,582.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,797 shares of company stock worth $2,186,636. Corporate insiders own 0.66% of the company’s stock.

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Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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