Boston Scientific (BSX) Gains As Market Dips: What You Should Know

Boston Scientific (BSX) closed the most recent trading day at $99.22, moving +0.32% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.07%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.Coming into today, shares of the medical device manufacturer had lost 6.79% in the past month. In that same time, the Medical sector gained 0.53%, while the S&P 500 lost 7.03%.Investors will be eagerly watching for the performance of Boston Scientific in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.67, showcasing a 19.64% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $4.56 billion, indicating a 18.2% upward movement from the same quarter last year.For the full year, the Zacks Consensus Estimates are projecting earnings of $2.85 per share and revenue of $19.05 billion, which would represent changes of +13.55% and +13.75%, respectively, from the prior year.Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Boston Scientific is holding a Zacks Rank of #2 (Buy) right now.In terms of valuation, Boston Scientific is presently being traded at a Forward P/E ratio of 34.72. Its industry sports an average Forward P/E of 18.2, 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 2.62. 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. The average PEG ratio for the Medical - Products industry stood at 2.11 at the close of the market yesterday.The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 126, placing it within the top 50% of over 250 industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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