Boston Scientific (BSX – Free Report) closed the most recent trading day at $89.68, moving -1.08% from the previous trading session. The stock’s change was less than the S&P 500’s daily loss of 1.07%. Elsewhere, the Dow saw a downswing of 0.97%, while the tech-heavy Nasdaq depreciated by 1.19%.
Heading into today, shares of the medical device manufacturer had 0% over the past month, outpacing the Medical sector’s loss of 5.64% and the S&P 500’s loss of 0.36% in that time.
The investment community will be paying close attention to the earnings performance of Boston Scientific in its upcoming release. It is anticipated that the company will report an EPS of $0.65, marking a 18.18% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.4 billion, up 18.15% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.46 per share and revenue of $16.59 billion, which would represent changes of +20% and +16.48%, respectively, from the prior year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there’s been no change in the Zacks Consensus EPS estimate. Boston Scientific is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 36.85. Its industry sports an average Forward P/E of 24.71, so one might conclude that Boston Scientific is trading at a premium comparatively.
Investors should also note that BSX has a PEG ratio of 2.67 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. The Medical – Products industry currently had an average PEG ratio of 2.29 as of yesterday’s close.
The Medical – Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 126, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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