Boston Scientific (bsx) Stock Moves -0.75%: What You Should Know

Boston Scientific (BSX) ended the recent trading session at $100.80, demonstrating a -0.75% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.59%. On the other hand, the Dow registered a loss of 0.45%, and the technology-centric Nasdaq decreased by 2.78%.

The the stock of medical device manufacturer has fallen by 1.12% in the past month, lagging the Medical sector's gain of 1.73% and overreaching the S&P 500's loss of 2.23%.

The investment community will be paying close attention to the earnings performance of Boston Scientific in its upcoming release. The company's upcoming EPS is projected at $0.67, signifying a 19.64% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.56 billion, up 18.2% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.85 per share and revenue of $19.05 billion. These totals would mark changes of +13.55% and +13.75%, respectively, from last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

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, 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 moved 2.84% higher. Currently, Boston Scientific is carrying a Zacks Rank of #2 (Buy).

In the context of valuation, Boston Scientific is at present trading with a Forward P/E ratio of 35.65. Its industry sports an average Forward P/E of 20, so one might conclude that Boston Scientific is trading at a premium comparatively.

It is also worth noting that BSX currently has a PEG ratio of 2.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. BSX's industry had an average PEG ratio of 2.07 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 129, which puts it in the bottom 49% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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