Boston Scientific (BSX) Exceeds Market Returns: Some Facts to Consider

Boston Scientific (BSX) closed the latest trading day at $100.88, indicating a +1.53% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, lost 0.14%.The medical device manufacturer's shares have seen a decrease of 4.27% over the last month, not keeping up with the Medical sector's loss of 3.93% and outstripping the S&P 500's loss of 6.22%.Investors will be eagerly watching for the performance of Boston Scientific in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.67, indicating a 19.64% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.56 billion, reflecting a 18.2% rise from the equivalent quarter last year.BSX's full-year Zacks Consensus Estimates are calling for earnings of $2.85 per share and revenue of $19.05 billion. These results would represent year-over-year changes of +13.55% and +13.75%, respectively.Investors should also take note of any recent adjustments to analyst estimates for Boston Scientific. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.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 remained stagnant within the past month. Right now, Boston Scientific possesses a Zacks Rank of #2 (Buy).Investors should also note Boston Scientific's current valuation metrics, including its Forward P/E ratio of 34.88. Its industry sports an average Forward P/E of 18.38, so one might conclude that Boston Scientific is trading at a premium comparatively.Meanwhile, BSX's PEG ratio is currently 2.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.11.The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 32% of over 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.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks