In the latest trading session, Boston Scientific (BSX - Free Report) closed at $37.67, marking a +1.7% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.82%. Meanwhile, the Dow gained 0.79%, and the Nasdaq, a tech-heavy index, added 0.79%.
Coming into today, shares of the medical device manufacturer had gained 0.14% in the past month. In that same time, the Medical sector gained 5.35%, while the S&P 500 gained 3.94%.
Wall Street will be looking for positivity from BSX as it approaches its next earnings report date. This is expected to be February 7, 2019. On that day, BSX is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 8.82%. Meanwhile, our latest consensus estimate is calling for revenue of $2.56 billion, up 6.24% from the prior-year quarter.
BSX's full-year Zacks Consensus Estimates are calling for earnings of $1.39 per share and revenue of $9.82 billion. These results would represent year-over-year changes of +10.32% and +8.6%, respectively.
Investors should also note any recent changes to analyst estimates for BSX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 moved 0.22% lower. BSX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BSX is holding a Forward P/E ratio of 26.69. Its industry sports an average Forward P/E of 25.19, so we one might conclude that BSX is trading at a premium comparatively.
Investors should also note that BSX has a PEG ratio of 2.44 right now. 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 2.33 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.