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Boston Scientific (BSX) Falls More Steeply Than Broader Market: What Investors Need to Know
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Boston Scientific (BSX - Free Report) closed the most recent trading day at $68.15, moving -2% from the previous trading session. This change lagged the S&P 500's 0.37% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.84%.
Heading into today, shares of the medical device manufacturer had lost 6.49% over the past month, outpacing the Medical sector's loss of 8.47% and lagging the S&P 500's loss of 3.7%.
Market participants will be closely following the financial results of Boston Scientific in its upcoming release. The company's earnings per share (EPS) are projected to be $0.8, reflecting a 6.67% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.19 billion, indicating a 11.22% increase compared to the same quarter of the previous year.
BSX's full-year Zacks Consensus Estimates are calling for earnings of $3.45 per share and revenue of $22.3 billion. These results would represent year-over-year changes of +12.75% and +11.06%, respectively.
Investors might also notice recent changes to analyst estimates for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% downward. As of now, Boston Scientific holds a Zacks Rank of #3 (Hold).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 20.14. This expresses a premium compared to the average Forward P/E of 18.65 of its industry.
We can additionally observe that BSX currently boasts a PEG ratio of 1.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Products was holding an average PEG ratio of 1.57 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 33% echelons 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) Falls More Steeply Than Broader Market: What Investors Need to Know
Boston Scientific (BSX - Free Report) closed the most recent trading day at $68.15, moving -2% from the previous trading session. This change lagged the S&P 500's 0.37% loss on the day. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq depreciated by 0.84%.
Heading into today, shares of the medical device manufacturer had lost 6.49% over the past month, outpacing the Medical sector's loss of 8.47% and lagging the S&P 500's loss of 3.7%.
Market participants will be closely following the financial results of Boston Scientific in its upcoming release. The company's earnings per share (EPS) are projected to be $0.8, reflecting a 6.67% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.19 billion, indicating a 11.22% increase compared to the same quarter of the previous year.
BSX's full-year Zacks Consensus Estimates are calling for earnings of $3.45 per share and revenue of $22.3 billion. These results would represent year-over-year changes of +12.75% and +11.06%, respectively.
Investors might also notice recent changes to analyst estimates for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% downward. As of now, Boston Scientific holds a Zacks Rank of #3 (Hold).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 20.14. This expresses a premium compared to the average Forward P/E of 18.65 of its industry.
We can additionally observe that BSX currently boasts a PEG ratio of 1.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Products was holding an average PEG ratio of 1.57 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 33% echelons 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.