In the latest close session, Boston Scientific (BSX) was up +2.74% at $44.92. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq gained 0.45%.
The medical device manufacturer's shares have seen a decrease of 10.79% over the last month, not keeping up with the Medical sector's loss of 3.65% and the S&P 500's gain of 1.27%.
Market participants will be closely following the financial results of Boston Scientific in its upcoming release. On that day, Boston Scientific is projected to report earnings of $0.77 per share, which would represent year-over-year growth of 2.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.28 billion, up 4.22% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.27 per share and a revenue of $21.29 billion, representing changes of +6.86% and +6.08%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.94% decrease. Boston Scientific is holding a Zacks Rank of #4 (Sell) right now.
In the context of valuation, Boston Scientific is at present trading with a Forward P/E ratio of 13.35. This indicates a discount in contrast to its industry's Forward P/E of 20.16.
Meanwhile, BSX's PEG ratio is currently 1.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 1.76 based on yesterday's closing prices.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 98, positioning it in the top 40% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Boston Scientific Corporation (BSX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).