PNC Financial Services Group Inc. Has $130.59 Million Stock Position in Boston Scientific Corporation $BSX

PNC Financial Services Group Inc. raised its position in Boston Scientific Corporation (NYSE:BSX) by 5.5% during the second quarter, HoldingsChannel.com reports. The firm owned 1,215,796 shares of the medical equipment provider’s stock after buying an additional 63,237 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Scientific were worth $130,589,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after acquiring an additional 226 shares in the last quarter. CWM LLC increased its position in Boston Scientific by 8.2% during the first quarter. CWM LLC now owns 37,476 shares of the medical equipment provider’s stock worth $3,781,000 after buying an additional 2,844 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of Boston Scientific by 12.5% in the first quarter. Apollon Wealth Management LLC now owns 22,897 shares of the medical equipment provider’s stock worth $2,310,000 after buying an additional 2,542 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Boston Scientific by 27.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,063 shares of the medical equipment provider’s stock worth $309,000 after acquiring an additional 662 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Boston Scientific by 152.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,073 shares of the medical equipment provider’s stock valued at $613,000 after acquiring an additional 3,667 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $98.47, for a total transaction of $4,923,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,561,336.74. This represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the transaction, the director owned 24,134 shares in the company, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 175,782 shares of company stock valued at $17,742,314 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Leerink Partners boosted their price objective on shares of Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Barclays upped their price target on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. UBS Group lifted their price objective on Boston Scientific from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Truist Financial raised their target price on Boston Scientific from $129.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and a consensus price target of $123.77.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $104.12 on Thursday. The firm has a market capitalization of $154.34 billion, a price-to-earnings ratio of 55.68, a PEG ratio of 2.02 and a beta of 0.58. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The business has a fifty day simple moving average of $99.85 and a 200 day simple moving average of $102.54. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.74%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

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.