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In a recent stock transaction, Brown Vance R, Senior Vice President, General Counsel, and Corporate Secretary at Boston Scientific Corp (NYSE:BSX), a prominent player in the Healthcare Equipment & Supplies industry with a market capitalization of $140.5 billion, sold 4,826 shares of the company’s common stock. According to InvestingPro analysis, the stock has delivered an impressive 37.6% return over the past year, though current indicators suggest it may be trading above its Fair Value. The shares were sold at an average price of $95.09 each, resulting in a total transaction value of $458,904. Following this sale, Vance retains ownership of 36,193 shares in the company.
This transaction was executed under a pre-established Rule 10b5-1 trading plan, which was adopted on November 21, 2024. Rule 10b5-1 plans allow company insiders to set up a predetermined schedule for selling stocks, providing an affirmative defense against accusations of insider trading.
In other recent news, Boston Scientific is gearing up to release its first-quarter results, with expectations of reported revenue growth between 17-19% and organic growth of 14-16%. Analysts from TD Cowen anticipate the company will meet or exceed these projections, aligning with a consensus revenue forecast of $4.57 billion and an EPS estimate of $0.67. Needham analysts upgraded Boston Scientific from Hold to Buy, setting a new price target of $113, citing a more optimistic outlook on the company’s growth prospects and competitive position. RBC Capital Markets maintained its Outperform rating with a $116 price target, highlighting Boston Scientific’s resilience in the economic climate and strong demand for its medical products. The firm also noted that the company is well-positioned for long-term growth, driven by innovations such as the Watchman and intravascular lithotripsy technologies. Additionally, RBC Capital emphasized the potential for significant financial benefits from strategic moves into new markets and technologies. The analysts at TD Cowen and Needham also expressed confidence in Boston Scientific’s ability to maintain superior sales growth amid broader economic challenges. Overall, these developments suggest a positive outlook for Boston Scientific as it approaches its upcoming financial disclosure.
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