Boston Scientific (BSX) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Boston Scientific (BSX) ended the recent trading session at $90.53, demonstrating a -0.34% swing from the preceding day's closing price. This change lagged the S&P 500's 0.19% loss on the day. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.18%.The medical device manufacturer's stock has climbed by 5.09% in the past month, exceeding the Medical sector's loss of 0.81% and lagging the S&P 500's gain of 6.66%.Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.65, signifying a 18.18% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.39 billion, up 17.85% from the year-ago period.For the full year, the Zacks Consensus Estimates are projecting earnings of $2.46 per share and revenue of $16.58 billion, which would represent changes of +20% and +16.4%, respectively, from the prior year.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. 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. 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Boston Scientific is currently a Zacks Rank #3 (Hold).From a valuation perspective, Boston Scientific is currently exchanging hands at a Forward P/E ratio of 36.93. Its industry sports an average Forward P/E of 26.49, so one might conclude that Boston Scientific is trading at a premium comparatively.We can additionally observe that BSX currently boasts a PEG ratio of 2.68. 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 Medical - Products was holding an average PEG ratio of 2.58 at yesterday's closing price.The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.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.To follow BSX in the coming trading sessions, be sure to utilize Zacks.com.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks