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The latest trading session saw Boston Scientific (BSX) ending at $89.32, denoting a -0.4% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.43% for the day. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.9%.
The medical device manufacturer's shares have seen a decrease of 0.83% over the last month, surpassing the Medical sector's loss of 7.03% and the S&P 500's loss of 1.98%.
Market participants will be closely following the financial results of Boston Scientific in its upcoming release. The company's earnings per share (EPS) are projected to be $0.65, reflecting a 18.18% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.4 billion, reflecting a 18.15% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.46 per share and a revenue of $16.59 billion, indicating changes of +20% and +16.48%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Boston Scientific is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 36.46. This denotes a premium relative to the industry's average Forward P/E of 24.48.
We can additionally observe that BSX currently boasts a PEG ratio of 2.64. 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 2.28 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 133, placing it within the bottom 48% of over 250 industries.