Boston Scientific (BSX) Gains But Lags Market: What You Should Know

Boston Scientific (BSX) ended the recent trading session at $104.71, demonstrating a +1.06% swing from the preceding day's closing price. This change lagged the S&P 500's 1.12% gain on the day. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 1.46%.Shares of the medical device manufacturer witnessed a gain of 0.07% over the previous month, trailing the performance of the Medical sector with its gain of 0.4% and outperforming the S&P 500's loss of 4.13%.Market participants will be closely following the financial results of Boston Scientific in its upcoming release. On that day, Boston Scientific is projected to report earnings of $0.67 per share, which would represent year-over-year growth of 19.64%. In the meantime, our current consensus estimate forecasts the revenue to be $4.56 billion, indicating a 18.2% growth compared to the corresponding quarter of the prior year.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.Any recent changes to analyst estimates for Boston Scientific should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 moved 2.67% higher. Boston Scientific currently has a Zacks Rank of #2 (Buy).Looking at its valuation, Boston Scientific is holding a Forward P/E ratio of 36.37. This denotes a premium relative to the industry's average Forward P/E of 18.57.Investors should also note that BSX has a PEG ratio of 2.74 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical - Products industry was having an average PEG ratio of 2.08.The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 137, putting it in the bottom 46% of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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