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John Bradley Sorenson, Executive Vice President of Global Operations at Boston Scientific Corp (NYSE:BSX), recently sold a significant portion of company stock. According to a filing with the Securities and Exchange Commission, Sorenson sold 6,528 shares of common stock on February 7, 2025, at a price of $104.97 per share, amounting to a total transaction value of $685,244. The sale comes as Boston Scientific, a prominent player in the Healthcare Equipment & Supplies industry with a market capitalization of $156.5 billion, trades near its 52-week high of $107.17. According to InvestingPro analysis, the stock appears overvalued at current levels, with technical indicators suggesting overbought conditions.
Following this transaction, Sorenson retains ownership of 26,449 shares of Boston Scientific stock. The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on August 9, 2024. The stock has shown remarkable strength, delivering a 60.7% return over the past year and a 38.1% gain in the last six months. For deeper insights into Boston Scientific’s valuation and growth prospects, including 20+ additional ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, Boston Scientific has attracted positive attention from several financial analysts following its robust fourth-quarter performance. Stifel analysts raised their price target for Boston Scientific to $120, maintaining a Buy rating, based on the company’s potential for significant operating leverage opportunities. RBC Capital Markets also lifted its price target to $116, citing Boston Scientific’s strong initial guide for 2025 and solid execution as key drivers. Truist Securities echoed these sentiments, raising their price target to $120 and maintaining a Buy rating, highlighting the company’s strong product pipeline and favorable markets.
Mizuho (NYSE:MFG) Securities increased its price target to $130, maintaining an Outperform rating, and noted Boston Scientific’s global FARAPULSE sales surpassing the $1 billion mark as a significant achievement. Canaccord Genuity also increased its price target to $117, maintaining a Buy rating, and highlighted Boston Scientific’s strong performance in the cardiovascular segment. These developments suggest a positive outlook for Boston Scientific, with several firms expressing confidence in the company’s financial performance and growth potential.
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