Boston Scientific (BSX) closed at $81.79 in the latest trading session, marking a +1.39% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 1.01% for the day. Elsewhere, the Dow saw an upswing of 0.55%, while the tech-heavy Nasdaq appreciated by 1.13%.

The medical device manufacturer's shares have seen an increase of 7.33% over the last month, surpassing the Medical sector's gain of 4.91% and the S&P 500's gain of 2.5%.

Market participants will be closely following the financial results of Boston Scientific in its upcoming release. The company's upcoming EPS is projected at $0.58, signifying a 16% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.03 billion, up 14.33% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.40 per share and revenue of $16.26 billion, indicating changes of +17.07% and +14.17%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Boston Scientific is holding a Zacks Rank of #2 (Buy) right now.

In the context of valuation, Boston Scientific is at present trading with a Forward P/E ratio of 33.63. This expresses a premium compared to the average Forward P/E of 24.36 of its industry.

Also, we should mention that BSX has a PEG ratio of 2.67. 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. The Medical - Products was holding an average PEG ratio of 2.33 at yesterday's closing price.

The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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