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Boston Scientific (BSX) Falls More Steeply Than Broader Market: What Investors Need to Know
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Boston Scientific (BSX - Free Report) closed the most recent trading day at $86.20, moving -0.58% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.21% for the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the medical device manufacturer had gained 4.53% over the past month. This has outpaced the Medical sector's loss of 3.28% and lagged the S&P 500's gain of 5.94% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company's earnings report is set to go public on October 23, 2024. On that day, Boston Scientific is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 16%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.03 billion, indicating a 14.36% increase compared to the same quarter of the previous year.
BSX's full-year Zacks Consensus Estimates are calling for earnings of $2.40 per share and revenue of $16.26 billion. These results would represent year-over-year changes of +17.07% and +14.22%, respectively.
Investors might also notice recent changes to analyst estimates for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Right now, Boston Scientific possesses a Zacks Rank of #2 (Buy).
From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 36.12. This denotes a premium relative to the industry's average Forward P/E of 24.88.
It is also worth noting that BSX currently has a PEG ratio of 2.87. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Products was holding an average PEG ratio of 1.92 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Boston Scientific (BSX) Falls More Steeply Than Broader Market: What Investors Need to Know
Boston Scientific (BSX - Free Report) closed the most recent trading day at $86.20, moving -0.58% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.21% for the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the medical device manufacturer had gained 4.53% over the past month. This has outpaced the Medical sector's loss of 3.28% and lagged the S&P 500's gain of 5.94% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company's earnings report is set to go public on October 23, 2024. On that day, Boston Scientific is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 16%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.03 billion, indicating a 14.36% increase compared to the same quarter of the previous year.
BSX's full-year Zacks Consensus Estimates are calling for earnings of $2.40 per share and revenue of $16.26 billion. These results would represent year-over-year changes of +17.07% and +14.22%, respectively.
Investors might also notice recent changes to analyst estimates for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Right now, Boston Scientific possesses a Zacks Rank of #2 (Buy).
From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 36.12. This denotes a premium relative to the industry's average Forward P/E of 24.88.
It is also worth noting that BSX currently has a PEG ratio of 2.87. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Products was holding an average PEG ratio of 1.92 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.