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Boston Scientific (BSX) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Boston Scientific (BSX - Free Report) ending at $77.01, denoting a +0.01% adjustment from its last day's close. This change outpaced the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 0.71%.
The the stock of medical device manufacturer has risen by 2.67% in the past month, leading the Medical sector's gain of 1.74% and undershooting the S&P 500's gain of 3.53%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company is forecasted to report an EPS of $0.58, showcasing a 9.43% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $4.02 billion, up 11.68% from the year-ago period.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Boston Scientific currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Boston Scientific is holding a Forward P/E ratio of 33.17. This indicates a premium in contrast to its industry's Forward P/E of 22.58.
Also, we should mention that BSX has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products was holding an average PEG ratio of 2.24 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 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.
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 While Market Falls: Some Facts to Note
The latest trading session saw Boston Scientific (BSX - Free Report) ending at $77.01, denoting a +0.01% adjustment from its last day's close. This change outpaced the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 0.71%.
The the stock of medical device manufacturer has risen by 2.67% in the past month, leading the Medical sector's gain of 1.74% and undershooting the S&P 500's gain of 3.53%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company is forecasted to report an EPS of $0.58, showcasing a 9.43% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $4.02 billion, up 11.68% from the year-ago period.
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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Boston Scientific currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Boston Scientific is holding a Forward P/E ratio of 33.17. This indicates a premium in contrast to its industry's Forward P/E of 22.58.
Also, we should mention that BSX has a PEG ratio of 2.65. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products was holding an average PEG ratio of 2.24 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.