Here's Why Boston Scientific (BSX) Fell More Than Broader Market

In the latest close session, Boston Scientific (BSX) was down 9.02% at $62.93. The stock trailed the S&P 500, which registered a daily loss of 0.4%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.73%. Coming into today, shares of the medical device manufacturer had lost 9.99% in the past month. In that same time, the Medical sector lost 10.07%, while the S&P 500 lost 7.34%. Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.8, showcasing a 6.67% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.19 billion, showing a 11.22% escalation compared to the year-ago quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.45 per share and revenue of $22.29 billion. These totals would mark changes of +12.75% and +11.04%, respectively, from last year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, there's been a 0.11% fall in the Zacks Consensus EPS estimate. Currently, Boston Scientific is carrying a Zacks Rank of #3 (Hold). In terms of valuation, Boston Scientific is currently trading at a Forward P/E ratio of 20.03. For comparison, its industry has an average Forward P/E of 18.43, which means Boston Scientific is trading at a premium to the group. We can also see that BSX currently has a PEG ratio of 1.07. 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 industry currently had an average PEG ratio of 1.52 as of yesterday's close. The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 170, placing it within the bottom 31% of over 250 industries. The Zacks Industry Rank gauges the strength of our 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. Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely 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