Boston Scientific (BSX) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Boston Scientific (BSX) reached $104.50, with a -0.01% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, added 0.39%.
Prior to today's trading, shares of the medical device manufacturer had gained 1.59% over the past month. This has outpaced the Medical sector's loss of 3.41% and lagged the S&P 500's gain of 6.69% in that time.
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The upcoming earnings release of Boston Scientific will be of great interest to investors. In that report, analysts expect Boston Scientific to post earnings of $0.72 per share. This would mark year-over-year growth of 16.13%. Alongside, our most recent consensus estimate is anticipating revenue of $4.89 billion, indicating a 18.63% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.91 per share and a revenue of $19.49 billion, representing changes of +15.94% and +16.4%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Boston Scientific. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Right now, Boston Scientific possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Boston Scientific currently has a Forward P/E ratio of 35.87. This valuation marks a premium compared to its industry's average Forward P/E of 18.32.
Meanwhile, BSX's PEG ratio is currently 2.7. 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 2.17.