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John Bradley Sorenson, Executive Vice President of Global Operations at Boston Scientific Corp (NYSE:BSX), recently made significant transactions involving the company’s stock. On February 12, Sorenson sold 6,389 shares at a weighted average price of $105.06 per share, amounting to a total of $671,249. The transaction price reflects the stock’s strong momentum, trading near its 52-week high of $107.17, with an impressive 62.8% return over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. This transaction was conducted under a pre-established Rule 10b5-1 trading plan adopted on August 9, 2024.
In addition to the sale, Sorenson acquired 10,182 shares on February 11 at no cost, as part of a performance share unit award from the company’s 2022 Total (EPA:TTEF) Shareholder Return Performance Share Program. This acquisition was based on the company’s performance relative to other companies in the S&P 500 Health Care Index over a three-year period ending December 31, 2024.
Furthermore, Sorenson disposed of 3,793 shares on February 11 at a price of $105.98 per share, resulting in a transaction total of $401,982, to cover tax obligations related to the vesting of performance share units. After these transactions, Sorenson holds 24,293 shares in the company, which maintains a moderate debt level and strong cash flows to cover interest payments.
In other recent news, Boston Scientific Corporation has been making headlines with a series of significant developments. The company announced that board member Charles J. Dockendorff will not seek re-election at the 2025 Annual Meeting of Stockholders, marking an end to his decade-long tenure. The board is currently evaluating the size and composition to decide on potential new additions following Dockendorff’s departure.
In the realm of financial analysis, Boston Scientific has received positive outlooks from multiple firms. Stifel raised its stock target for the company to $120, maintaining a buy rating, following recent meetings that left analysts with a positive outlook on the company’s future financial performance. Similarly, RBC Capital Markets raised its price target on Boston Scientific to $116, citing the company’s robust fourth-quarter performance and strong initial guide for 2025. Truist Securities also lifted its stock target to $120, maintaining a buy rating, while Mizuho (NYSE:MFG) Securities raised its target to $130, maintaining an outperform rating.
These adjustments follow Boston Scientific’s strong performance in various sectors, including its Electrophysiology and Watchman divisions, and the successful adoption of its PFA technology. The company’s future growth is anticipated to be driven by solid execution, an innovative product portfolio, and robust end-markets. These recent developments underscore Boston Scientific’s strategic positioning and potential for enhanced profitability.
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