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Boston Scientific (BSX) Stock Declines While Market Improves: Some Information for Investors
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Boston Scientific (BSX - Free Report) closed the latest trading day at $102.43, indicating a -0.65% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.01% for the day. On the other hand, the Dow registered a loss of 0.22%, and the technology-centric Nasdaq increased by 0.32%.
The the stock of medical device manufacturer has fallen by 0.98% in the past month, leading the Medical sector's loss of 2.72% and undershooting the S&P 500's gain of 5.2%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.72, marking a 16.13% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $4.89 billion, indicating a 18.63% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.91 per share and revenue of $19.49 billion, indicating changes of +15.94% and +16.4%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Boston Scientific is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 35.39. This represents a premium compared to its industry's average Forward P/E of 18.18.
Meanwhile, BSX's PEG ratio is currently 2.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BSX's industry had an average PEG ratio of 2.25 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 132, placing it within the bottom 47% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Boston Scientific (BSX) Stock Declines While Market Improves: Some Information for Investors
Boston Scientific (BSX - Free Report) closed the latest trading day at $102.43, indicating a -0.65% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.01% for the day. On the other hand, the Dow registered a loss of 0.22%, and the technology-centric Nasdaq increased by 0.32%.
The the stock of medical device manufacturer has fallen by 0.98% in the past month, leading the Medical sector's loss of 2.72% and undershooting the S&P 500's gain of 5.2%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.72, marking a 16.13% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $4.89 billion, indicating a 18.63% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.91 per share and revenue of $19.49 billion, indicating changes of +15.94% and +16.4%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Boston Scientific is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 35.39. This represents a premium compared to its industry's average Forward P/E of 18.18.
Meanwhile, BSX's PEG ratio is currently 2.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BSX's industry had an average PEG ratio of 2.25 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 132, placing it within the bottom 47% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.