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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 most recent trading day at $46.95, moving -2.94% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.06%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 1.4%.
Shares of the medical device manufacturer witnessed a gain of 1.32% over the previous month, trailing the performance of the Medical sector with its gain of 5.75%, and the S&P 500's gain of 2.46%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company is predicted to post an EPS of $0.8, indicating a 6.67% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.28 billion, up 4.22% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.3 per share and revenue of $21.33 billion, indicating changes of +7.84% and +6.28%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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, the Zacks Consensus EPS estimate has remained steady. Boston Scientific is currently a Zacks Rank #4 (Sell).
In the context of valuation, Boston Scientific is at present trading with a Forward P/E ratio of 14.65. This indicates a discount in contrast to its industry's Forward P/E of 21.
It is also worth noting that BSX currently has a PEG ratio of 1.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Products industry stood at 1.88 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Boston Scientific (BSX) Stock Declines While Market Improves: Some Information for Investors
Boston Scientific (BSX - Free Report) closed the most recent trading day at $46.95, moving -2.94% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.06%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 1.4%.
Shares of the medical device manufacturer witnessed a gain of 1.32% over the previous month, trailing the performance of the Medical sector with its gain of 5.75%, and the S&P 500's gain of 2.46%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company is predicted to post an EPS of $0.8, indicating a 6.67% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.28 billion, up 4.22% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.3 per share and revenue of $21.33 billion, indicating changes of +7.84% and +6.28%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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, the Zacks Consensus EPS estimate has remained steady. Boston Scientific is currently a Zacks Rank #4 (Sell).
In the context of valuation, Boston Scientific is at present trading with a Forward P/E ratio of 14.65. This indicates a discount in contrast to its industry's Forward P/E of 21.
It is also worth noting that BSX currently has a PEG ratio of 1.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Products industry stood at 1.88 at the close of the market yesterday.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.