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Boston Scientific Corp.’s (NYSE:BSX) Executive Vice President and Chief Financial Officer, Daniel J. Brennan, recently engaged in a series of stock transactions, according to a recent SEC filing. The transactions come as the company, now valued at $156.48 billion, has seen its stock surge 62.8% over the past year, trading near its 52-week high of $107.17. On February 12, Brennan sold 15,087 shares of Boston Scientific common stock at a weighted average price of $105.07 per share, totaling approximately $1.59 million. These sales were part of a pre-established Rule 10b5-1 trading plan adopted on August 26, 2024. According to InvestingPro analysis, the stock’s technical indicators suggest it’s currently in overbought territory, with the company maintaining a "GREAT" overall financial health score.
In addition to the stock sale, Brennan also executed a stock option transaction on the same day, acquiring 15,087 shares at an exercise price of $16.31 per share. This transaction was part of a planned exercise and sale strategy.
Earlier, on February 11, Brennan acquired 33,944 shares of common stock at no cost, as part of a performance share unit award under the company’s 2022 Total (EPA:TTEF) Shareholder Return Performance Share Program. This acquisition was based on the company’s performance relative to the S&P 500 Health Care Index over a three-year period ending December 31, 2024.
Following these transactions, Brennan holds 241,451 shares of Boston Scientific common stock.
In other recent news, Boston Scientific Corporation announced the departure of Charles J. Dockendorff from its Board of Directors, a decision not related to any disagreements with the company’s policies or operations. This development follows several positive adjustments in the price targets set by various financial firms. Stifel analysts raised their price target from $115.00 to $120.00, maintaining a Buy rating based on a positive outlook for Boston Scientific’s future financial performance.
RBC Capital Markets also increased their price target to $116 from $105, citing the company’s strong Q4 performance in 2024 and a promising initial guide for 2025. Truist Securities followed suit, raising their price target to $120 from $110, reaffirming a Buy rating due to robust Q4 performance and potential for future earnings beats.
Mizuho (NYSE:MFG) Securities set a new Street-high price target of $130, up from $110, maintaining an Outperform rating. This adjustment came after Boston Scientific’s global FARAPULSE sales surpassed the $1 billion mark, and the company’s anticipation of presenting Phase 2 ADVANTAGE AF data in the first half of 2025. These are recent developments that investors might consider noteworthy.
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