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Boston Scientific Corporation (NYSE:BSX), a leader in medical device manufacturing with a market capitalization of $155.77 billion, announced today that Charles J. Dockendorff will not seek re-election to its Board of Directors at the upcoming 2025 Annual Meeting of Stockholders. Dockendorff, who has been a board member since April 2015, currently serves on the Audit Committee and the Risk Committee. According to the company’s SEC filing, Dockendorff’s decision to leave the board is not due to any disagreements with the company’s operations, policies, or practices. The company has demonstrated strong performance, with revenue growth of 17.6% in the last twelve months.
Dockendorff’s tenure on the board will continue until the 2025 Annual Meeting. Boston Scientific’s Board and Nominating and Governance Committee are evaluating the board’s size and composition to decide if new directors should be added following Dockendorff’s departure. According to InvestingPro, the company maintains a "GREAT" overall financial health score, with 19 analysts recently revising their earnings expectations upward for the upcoming period.
This information is based on a press release statement from Boston Scientific Corporation filed with the SEC. The company, incorporated in Delaware and with headquarters in Marlborough, Massachusetts, is known for its development and manufacturing of medical devices used in interventional medical specialties.
Boston Scientific has not yet indicated any potential candidates to fill the vacancy on the board. The company’s stock is traded on the New York Stock Exchange under the ticker symbol BSX.
In other recent news, Boston Scientific has been the focus of several analyst upgrades. Stifel increased the stock target for the company to $120, maintaining a buy rating, based on the company’s potential for significant operating leverage opportunities. Similarly, RBC Capital raised the price target to $116, citing the company’s robust fourth-quarter performance in 2024 and strong initial guide for 2025.
Truist Securities also elevated Boston Scientific’s stock target to $120, acknowledging the company’s robust performance and potential for future earnings beats. Mizuho (NYSE:MFG) Securities went a step further, raising the target to $130, recognizing the company’s success with global FARAPULSE sales and the potential for strategic mergers and acquisitions.
Lastly, Canaccord Genuity increased the stock target to $117, despite the company’s guidance indicating a slowdown in growth for 2025. These recent developments reflect the positive outlook of various analysts towards Boston Scientific’s financial performance.
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