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Boston Scientific (BSX) Stock Drops Despite Market Gains: Important Facts to Note September 17, 2024
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Boston Scientific (BSX - Free Report) closed the most recent trading day at $82.52, moving -1.19% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.2%.
The the stock of medical device manufacturer has risen by 6.14% in the past month, leading the Medical sector's gain of 2.67% and the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.58, reflecting a 16% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.03 billion, indicating a 14.34% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.40 per share and revenue of $16.26 billion, which would represent changes of +17.07% and +14.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boston Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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 a Zacks Rank #2 (Buy).
With respect to valuation, Boston Scientific is currently being traded at a Forward P/E ratio of 34.81. This denotes a premium relative to the industry's average Forward P/E of 25.29.
One should further note that BSX currently holds a PEG ratio of 2.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.08.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Boston Scientific (BSX - Free Report) closed the most recent trading day at $82.52, moving -1.19% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.2%.
The the stock of medical device manufacturer has risen by 6.14% in the past month, leading the Medical sector's gain of 2.67% and the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.58, reflecting a 16% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.03 billion, indicating a 14.34% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.40 per share and revenue of $16.26 billion, which would represent changes of +17.07% and +14.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boston Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding 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 a Zacks Rank #2 (Buy).
With respect to valuation, Boston Scientific is currently being traded at a Forward P/E ratio of 34.81. This denotes a premium relative to the industry's average Forward P/E of 25.29.
One should further note that BSX currently holds a PEG ratio of 2.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.08.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.