Boston Scientific (BSX - Free Report) closed the most recent trading day at $34.60, moving +1.62% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow 0%, and the Nasdaq, a tech-heavy index, added 0.92%.
Coming into today, shares of the medical device manufacturer had lost 3.03% in the past month. In that same time, the Medical sector lost 2.5%, while the S&P 500 lost 4.06%.
Investors will be hoping for strength from BSX as it approaches its next earnings release, which is expected to be February 7, 2019. The company is expected to report EPS of $0.37, up 8.82% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.56 billion, up 6.24% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.39 per share and revenue of $9.82 billion. These totals would mark changes of +10.32% and +8.6%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BSX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. BSX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note BSX's current valuation metrics, including its Forward P/E ratio of 24.93. For comparison, its industry has an average Forward P/E of 24.93, which means BSX is trading at a no noticeable deviation to the group.
Also, we should mention that BSX has a PEG ratio of 2.28. 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. Medical - Products stocks are, on average, holding a PEG ratio of 2.26 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 41% 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.