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John Bradley Sorenson, Executive Vice President of Global Operations at Boston Scientific Corp (NYSE:BSX), recently reported several transactions involving the company’s common stock. The transactions come as the $155 billion market cap company trades near its 52-week high of $107.17, having delivered an impressive 61% return over the past year. On February 14, Sorenson sold 1,201 shares at an average price of $106.31, totaling approximately $127,678. This transaction was conducted under a pre-established Rule 10b5-1 trading plan.
In addition to the sale, Sorenson engaged in multiple acquisitions of common stock through the exercise of restricted stock units. On February 14, he acquired 2,115 shares, and on February 16, he acquired 1,273 shares, both at no cost. Further, on February 17, he acquired an additional 1,500 shares, also at no cost. According to InvestingPro analysis, the stock is currently showing signs of being overbought, with 19 analysts recently revising their earnings expectations upward.
Sorenson also reported transactions related to the withholding of shares to cover tax obligations. On February 14, 965 shares were withheld at a price of $106.11 per share, and on February 16, an additional 581 shares were withheld at the same price. On February 17, 684 shares were withheld, maintaining the same price per share. These withholding transactions amounted to a total of $236,625.
Following these transactions, Sorenson holds 26,951 shares of Boston Scientific common stock directly.
In other recent news, Boston Scientific Corporation has been the subject of several significant developments. The company announced that board member Charles J. Dockendorff will not seek re-election at the upcoming 2025 Annual Meeting of Stockholders, leaving a potential vacancy on the board.
On the financial front, Boston Scientific’s strong fourth-quarter performance in 2024 and promising initial guidance for 2025 have led to multiple analyst upgrades. Stifel analysts raised their price target for the company from $115 to $120, maintaining a buy rating. RBC Capital Markets followed suit, increasing their price target to $116 from $105, while maintaining an outperform rating. Truist Securities also exhibited confidence in the company’s performance, raising its price target to $120 from $110 and maintaining a buy rating.
Notably, Mizuho (NYSE:MFG) Securities holds the highest price target for Boston Scientific at $130, up from $110, while maintaining an outperform rating. Mizuho’s upgrade comes in light of the company’s strong sales figures and promising product developments. All these recent developments indicate a positive outlook for Boston Scientific in the eyes of analysts.
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