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Boston Scientific (BSX) Increases Despite Market Slip: Here's What You Need to Know
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Boston Scientific (BSX - Free Report) ended the recent trading session at $106.66, demonstrating a +1.1% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.69%. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.82%.
The stock of medical device manufacturer has fallen by 1.21% in the past month, lagging the Medical sector's gain of 5.6% and the S&P 500's gain of 3.79%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. In that report, analysts expect Boston Scientific to post earnings of $0.71 per share. This would mark year-over-year growth of 12.7%. Alongside, our most recent consensus estimate is anticipating revenue of $4.95 billion, indicating a 17.68% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.98 per share and revenue of $19.8 billion, indicating changes of +18.73% and +18.27%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Boston Scientific is currently a Zacks Rank #2 (Buy).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 35.45. Its industry sports an average Forward P/E of 18.85, so one might conclude that Boston Scientific is trading at a premium comparatively.
Investors should also note that BSX has a PEG ratio of 2.54 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Products industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BSX in the coming trading sessions, be sure to utilize Zacks.com.
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Boston Scientific (BSX) Increases Despite Market Slip: Here's What You Need to Know
Boston Scientific (BSX - Free Report) ended the recent trading session at $106.66, demonstrating a +1.1% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.69%. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.82%.
The stock of medical device manufacturer has fallen by 1.21% in the past month, lagging the Medical sector's gain of 5.6% and the S&P 500's gain of 3.79%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. In that report, analysts expect Boston Scientific to post earnings of $0.71 per share. This would mark year-over-year growth of 12.7%. Alongside, our most recent consensus estimate is anticipating revenue of $4.95 billion, indicating a 17.68% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.98 per share and revenue of $19.8 billion, indicating changes of +18.73% and +18.27%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Boston Scientific is currently a Zacks Rank #2 (Buy).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 35.45. Its industry sports an average Forward P/E of 18.85, so one might conclude that Boston Scientific is trading at a premium comparatively.
Investors should also note that BSX has a PEG ratio of 2.54 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Products industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BSX in the coming trading sessions, be sure to utilize Zacks.com.