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Why Boston Scientific (BSX) Outpaced the Stock Market Today
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Boston Scientific (BSX - Free Report) ended the recent trading session at $71.20, demonstrating a +2.02% change from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.47%.
Prior to today's trading, shares of the medical device manufacturer had lost 6.61% lagged the Medical sector's loss of 4.79% and the S&P 500's loss of 1.88%.
The investment community will be paying close attention to the earnings performance of Boston Scientific in its upcoming release. The company is forecasted to report an EPS of $0.8, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $5.19 billion, up 11.28% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.45 per share and a revenue of $22.29 billion, indicating changes of +12.75% and +11.04%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Right now, Boston Scientific possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Boston Scientific is presently trading at a Forward P/E ratio of 20.2. This indicates a premium in contrast to its industry's Forward P/E of 19.39.
Meanwhile, BSX's PEG ratio is currently 0.98. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 1.59.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Boston Scientific (BSX) Outpaced the Stock Market Today
Boston Scientific (BSX - Free Report) ended the recent trading session at $71.20, demonstrating a +2.02% change from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq increased by 0.47%.
Prior to today's trading, shares of the medical device manufacturer had lost 6.61% lagged the Medical sector's loss of 4.79% and the S&P 500's loss of 1.88%.
The investment community will be paying close attention to the earnings performance of Boston Scientific in its upcoming release. The company is forecasted to report an EPS of $0.8, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $5.19 billion, up 11.28% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.45 per share and a revenue of $22.29 billion, indicating changes of +12.75% and +11.04%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Right now, Boston Scientific possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Boston Scientific is presently trading at a Forward P/E ratio of 20.2. This indicates a premium in contrast to its industry's Forward P/E of 19.39.
Meanwhile, BSX's PEG ratio is currently 0.98. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 1.59.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.