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Boston Scientific (BSX) Dips More Than Broader Market: What You Should Know
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Boston Scientific (BSX - Free Report) ended the recent trading session at $81.37, demonstrating a -0.72% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.25%.
The medical device manufacturer's shares have seen an increase of 11.09% over the last month, surpassing the Medical sector's gain of 4.56% and the S&P 500's gain of 3.42%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company's upcoming EPS is projected at $0.58, signifying a 16% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.03 billion, up 14.33% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.40 per share and revenue of $16.26 billion. These totals would mark changes of +17.07% and +14.17%, respectively, from last year.
Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Boston Scientific holds a Zacks Rank of #2 (Buy).
Looking at valuation, Boston Scientific is presently trading at a Forward P/E ratio of 34.17. This valuation marks a premium compared to its industry's average Forward P/E of 24.36.
It's also important to note that BSX currently trades at a PEG ratio of 2.72. 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. BSX's industry had an average PEG ratio of 2.13 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Boston Scientific (BSX) Dips More Than Broader Market: What You Should Know
Boston Scientific (BSX - Free Report) ended the recent trading session at $81.37, demonstrating a -0.72% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.25%.
The medical device manufacturer's shares have seen an increase of 11.09% over the last month, surpassing the Medical sector's gain of 4.56% and the S&P 500's gain of 3.42%.
The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company's upcoming EPS is projected at $0.58, signifying a 16% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.03 billion, up 14.33% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.40 per share and revenue of $16.26 billion. These totals would mark changes of +17.07% and +14.17%, respectively, from last year.
Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Boston Scientific holds a Zacks Rank of #2 (Buy).
Looking at valuation, Boston Scientific is presently trading at a Forward P/E ratio of 34.17. This valuation marks a premium compared to its industry's average Forward P/E of 24.36.
It's also important to note that BSX currently trades at a PEG ratio of 2.72. 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. BSX's industry had an average PEG ratio of 2.13 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.