In the latest close session, Boston Scientific (BSX) was down 1.02% at $91.75. The stock's change was less than the S&P 500's daily gain of 0.21%. Elsewhere, the Dow saw an upswing of 1.35%, while the tech-heavy Nasdaq depreciated by 0.26%.
Heading into today, shares of the medical device manufacturer had lost 10.98% over the past month, lagging the Medical sector's gain of 3.7% and the S&P 500's gain of 0.89%.
The upcoming earnings release of Boston Scientific will be of great interest to investors. In that report, analysts expect Boston Scientific to post earnings of $0.78 per share. This would mark year-over-year growth of 11.43%. At the same time, our most recent consensus estimate is projecting a revenue of $5.27 billion, reflecting a 15.46% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.04 per share and a revenue of $20.06 billion, signifying shifts of +21.12% and +19.77%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Boston Scientific is carrying a Zacks Rank of #2 (Buy).
With respect to valuation, Boston Scientific is currently being traded at a Forward P/E ratio of 30.54. For comparison, its industry has an average Forward P/E of 19.41, which means Boston Scientific is trading at a premium to the group.
Also, we should mention that BSX has a PEG ratio of 1.87. 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 industry currently had an average PEG ratio of 1.95 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 165, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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 Corporation (BSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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