We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why Boston Scientific (BSX) Fell More Than Broader Market
Read MoreHide Full Article
In the latest close session, Boston Scientific (BSX - Free Report) was down 9.02% at $62.93. The stock trailed the S&P 500, which registered a daily loss of 0.4%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.73%.
Coming into today, shares of the medical device manufacturer had lost 9.99% in the past month. In that same time, the Medical sector lost 10.07%, while the S&P 500 lost 7.34%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. 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. Simultaneously, our latest consensus estimate expects the revenue to be $5.19 billion, showing a 11.22% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.45 per share and revenue of $22.29 billion. These totals would mark changes of +12.75% and +11.04%, respectively, from last 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 business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 0.11% fall in the Zacks Consensus EPS estimate. Currently, Boston Scientific is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Boston Scientific is currently trading at a Forward P/E ratio of 20.03. For comparison, its industry has an average Forward P/E of 18.43, which means Boston Scientific is trading at a premium to the group.
We can also see that BSX currently has a PEG ratio of 1.07. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 1.52 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 170, placing it within the bottom 31% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Here's Why Boston Scientific (BSX) Fell More Than Broader Market
In the latest close session, Boston Scientific (BSX - Free Report) was down 9.02% at $62.93. The stock trailed the S&P 500, which registered a daily loss of 0.4%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.73%.
Coming into today, shares of the medical device manufacturer had lost 9.99% in the past month. In that same time, the Medical sector lost 10.07%, while the S&P 500 lost 7.34%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. 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. Simultaneously, our latest consensus estimate expects the revenue to be $5.19 billion, showing a 11.22% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.45 per share and revenue of $22.29 billion. These totals would mark changes of +12.75% and +11.04%, respectively, from last 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 business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 0.11% fall in the Zacks Consensus EPS estimate. Currently, Boston Scientific is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Boston Scientific is currently trading at a Forward P/E ratio of 20.03. For comparison, its industry has an average Forward P/E of 18.43, which means Boston Scientific is trading at a premium to the group.
We can also see that BSX currently has a PEG ratio of 1.07. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 1.52 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 170, placing it within the bottom 31% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.