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Boston Scientific (BSX) Ascends But Remains Behind Market: Some Facts to Note
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In the latest market close, Boston Scientific (BSX - Free Report) reached $77.41, with a +0.34% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, added 1.53%.
Shares of the medical device manufacturer have appreciated by 4.98% over the course of the past month, outperforming the Medical sector's gain of 2.46% and the S&P 500's gain of 3.11%.
Market participants will be closely following the financial results of Boston Scientific in its upcoming release. On that day, Boston Scientific is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 9.43%. Alongside, our most recent consensus estimate is anticipating revenue of $4.02 billion, indicating a 11.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and revenue of $15.99 billion, which would represent changes of +13.17% and +12.3%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Boston Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Boston Scientific holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Boston Scientific is holding a Forward P/E ratio of 33.24. This indicates a premium in contrast to its industry's Forward P/E of 23.62.
It is also worth noting that BSX currently has a PEG ratio of 2.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.14 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 138, placing it within the bottom 46% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Boston Scientific (BSX) Ascends But Remains Behind Market: Some Facts to Note
In the latest market close, Boston Scientific (BSX - Free Report) reached $77.41, with a +0.34% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, added 1.53%.
Shares of the medical device manufacturer have appreciated by 4.98% over the course of the past month, outperforming the Medical sector's gain of 2.46% and the S&P 500's gain of 3.11%.
Market participants will be closely following the financial results of Boston Scientific in its upcoming release. On that day, Boston Scientific is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 9.43%. Alongside, our most recent consensus estimate is anticipating revenue of $4.02 billion, indicating a 11.68% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and revenue of $15.99 billion, which would represent changes of +13.17% and +12.3%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Boston Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Boston Scientific holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Boston Scientific is holding a Forward P/E ratio of 33.24. This indicates a premium in contrast to its industry's Forward P/E of 23.62.
It is also worth noting that BSX currently has a PEG ratio of 2.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.14 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 138, placing it within the bottom 46% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.