PNC Financial Services Group Inc. Raises Position in Boston Scientific Corporation $BSX

PNC Financial Services Group Inc. lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. 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. owned 0.08% of Boston Scientific worth $130,589,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Boston Scientific by 15.4% during the 2nd quarter. GAMMA Investing LLC now owns 29,486 shares of the medical equipment provider’s stock valued at $3,167,000 after buying an additional 3,932 shares during the last quarter. MRA Advisory Group acquired a new stake in Boston Scientific in the second quarter valued at $273,000. Bank of New Hampshire boosted its stake in Boston Scientific by 552.0% during the 2nd quarter. Bank of New Hampshire now owns 19,724 shares of the medical equipment provider’s stock valued at $2,119,000 after acquiring an additional 16,699 shares during the last quarter. NS Partners Ltd grew its holdings in Boston Scientific by 1.6% during the 1st quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock worth $37,143,000 after acquiring an additional 5,704 shares in the last quarter. Finally, New England Research & Management Inc. bought a new stake in shares of Boston Scientific in the 2nd quarter worth about $1,133,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BSX shares. Robert W. Baird lifted their price target on Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday, October 8th. UBS Group boosted their price target on Boston Scientific from $135.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Erste Group Bank lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, Raymond James Financial lifted their price target on shares of Boston Scientific from $121.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $123.77.

Insider Activity

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total value of $4,973,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at $17,739,678.74. This trade represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the sale, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 175,782 shares of company stock worth $17,742,314. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.6%

BSX stock opened at $104.12 on Thursday. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $154.34 billion, a price-to-earnings ratio of 55.68, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The firm’s 50-day moving average is $99.85 and its two-hundred day moving average is $102.54.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results 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 firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last 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. On average, analysts forecast that Boston Scientific Corporation 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.