In the latest market close, Boston Scientific (BSX) reached $104.50, with a -0.01% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, added 0.39%.
Prior to today's trading, shares of the medical device manufacturer had gained 1.59% over the past month. This has outpaced the Medical sector's loss of 3.41% and lagged the S&P 500's gain of 6.69% in that time.
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 $0.72 per share. This would mark year-over-year growth of 16.13%. Alongside, our most recent consensus estimate is anticipating revenue of $4.89 billion, indicating a 18.63% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.91 per share and a revenue of $19.49 billion, representing changes of +15.94% and +16.4%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Right now, Boston Scientific possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 35.87. This valuation marks a premium compared to its industry's average Forward P/E of 18.32.
Meanwhile, BSX's PEG ratio is currently 2.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.17.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Boston Scientific Corporation (BSX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
