In This Article:
The latest trading session saw Boston Scientific (BSX) ending at $90.43, denoting a -0.03% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.39%. On the other hand, the Dow registered a loss of 0.61%, and the technology-centric Nasdaq decreased by 0.32%.
Prior to today's trading, shares of the medical device manufacturer had gained 0.01% over the past month. This has outpaced the Medical sector's loss of 0.78% and lagged the S&P 500's gain of 3.6% in that time.
The investment community will be paying close attention to the earnings performance of Boston Scientific in its upcoming release. The company is forecasted to report an EPS of $0.65, showcasing a 18.18% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $4.39 billion, showing a 17.85% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.46 per share and revenue of $16.58 billion, indicating changes of +20% and +16.4%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 no change in the Zacks Consensus EPS estimate. As of now, Boston Scientific holds a Zacks Rank of #3 (Hold).
Investors should also note Boston Scientific's current valuation metrics, including its Forward P/E ratio of 36.77. Its industry sports an average Forward P/E of 24.61, so one might conclude that Boston Scientific is trading at a premium comparatively.
We can also see that BSX currently has a PEG ratio of 2.66. 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 had an average PEG ratio of 2.31 as trading concluded yesterday.