Boston Scientific (BSX) Ascends But Remains Behind Market: Some Facts to Note

The latest trading session saw Boston Scientific (BSX) ending at $90.56, denoting a +0.4% adjustment from its last day's close. This change lagged the S&P 500's 0.82% gain on the day. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 1.77%.Prior to today's trading, shares of the medical device manufacturer had gained 1.67% over the past month. This has outpaced the Medical sector's loss of 4.06% and the S&P 500's gain of 0.8% in that time.Market participants will be closely following the financial results of Boston Scientific in its upcoming release. The company is forecasted to report an EPS of $0.65, showcasing a 18.18% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $4.39 billion, up 17.85% from the prior-year quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.46 per share and a revenue of $16.58 billion, indicating changes of +20% and +16.4%, respectively, from the former year.It's also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Boston Scientific boasts a Zacks Rank of #3 (Hold).Looking at its valuation, Boston Scientific is holding a Forward P/E ratio of 36.67. This indicates a premium in contrast to its industry's Forward P/E of 26.18.Also, we should mention that BSX has a PEG ratio of 2.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Products stocks are, on average, holding a PEG ratio of 2.44 based on yesterday's closing prices.The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 130, positioning it in the bottom 49% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks