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Boston Scientific (BSX) Stock Moves -0.29%: What You Should Know
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In the latest market close, Boston Scientific (BSX - Free Report) reached $76.89, with a -0.29% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
The the stock of medical device manufacturer has fallen by 0.39% in the past month, leading the Medical sector's loss of 1.09% and undershooting the S&P 500's gain of 5.11%.
The upcoming earnings release of Boston Scientific will be of great interest to investors. The company's earnings report is expected on July 24, 2024. In that report, analysts expect Boston Scientific to post earnings of $0.58 per share. This would mark year-over-year growth of 9.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.02 billion, up 11.68% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.32 per share and a revenue of $15.99 billion, demonstrating changes of +13.17% and +12.3%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Boston Scientific. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 33.22. Its industry sports an average Forward P/E of 21.71, so one might conclude that Boston Scientific is trading at a premium comparatively.
It's also important to note that BSX currently trades at a PEG ratio of 2.65. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.25.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Boston Scientific (BSX) Stock Moves -0.29%: What You Should Know
In the latest market close, Boston Scientific (BSX - Free Report) reached $76.89, with a -0.29% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
The the stock of medical device manufacturer has fallen by 0.39% in the past month, leading the Medical sector's loss of 1.09% and undershooting the S&P 500's gain of 5.11%.
The upcoming earnings release of Boston Scientific will be of great interest to investors. The company's earnings report is expected on July 24, 2024. In that report, analysts expect Boston Scientific to post earnings of $0.58 per share. This would mark year-over-year growth of 9.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.02 billion, up 11.68% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.32 per share and a revenue of $15.99 billion, demonstrating changes of +13.17% and +12.3%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Boston Scientific. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 33.22. Its industry sports an average Forward P/E of 21.71, so one might conclude that Boston Scientific is trading at a premium comparatively.
It's also important to note that BSX currently trades at a PEG ratio of 2.65. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.25.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.