Why Boston Scientific (BSX) Outpaced the Stock Market Today

Boston Scientific (BSX) closed the most recent trading day at $91.07, moving +1.35% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 1.1%. Elsewhere, the Dow saw an upswing of 0.91%, while the tech-heavy Nasdaq appreciated by 1.35%.Shares of the medical device manufacturer have appreciated by 0.68% over the course of the past month, outperforming the Medical sector's loss of 3.78% and the S&P 500's gain of 0.22%.Market participants will be closely following the financial results of Boston Scientific in its upcoming release. In that report, analysts expect Boston Scientific to post earnings of $0.65 per share. This would mark year-over-year growth of 18.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.4 billion, up 18.15% from the year-ago period.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.46 per share and revenue of $16.59 billion. These totals would mark changes of +20% and +16.48%, respectively, from last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Boston Scientific. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Boston Scientific boasts a Zacks Rank of #2 (Buy).In the context of valuation, Boston Scientific is at present trading with a Forward P/E ratio of 36.53. This indicates a premium in contrast to its industry's Forward P/E of 24.72.Also, we should mention that BSX has a PEG ratio of 2.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BSX's industry had an average PEG ratio of 2.3 as of yesterday's close.The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 130, positioning it in the bottom 49% of all 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks