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Boston Scientific (BSX) Exceeds Market Returns: Some Facts to Consider
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Boston Scientific (BSX - Free Report) closed at $78.02 in the latest trading session, marking a +0.42% move from the prior day. This move outpaced the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.4%.
The the stock of medical device manufacturer has risen by 1.21% in the past month, leading the Medical sector's gain of 0.79% and undershooting the S&P 500's gain of 3.78%.
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 report is set to go public on July 24, 2024. On that day, Boston Scientific is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 9.43%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.02 billion, indicating a 11.68% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and a revenue of $15.99 billion, representing changes of +13.17% and +12.3%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. As of now, Boston Scientific holds a Zacks Rank of #3 (Hold).
Looking at valuation, Boston Scientific is presently trading at a Forward P/E ratio of 33.47. This expresses a premium compared to the average Forward P/E of 22.18 of its industry.
We can additionally observe that BSX currently boasts a PEG ratio of 2.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 (BSX) Exceeds Market Returns: Some Facts to Consider
Boston Scientific (BSX - Free Report) closed at $78.02 in the latest trading session, marking a +0.42% move from the prior day. This move outpaced the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq increased by 0.4%.
The the stock of medical device manufacturer has risen by 1.21% in the past month, leading the Medical sector's gain of 0.79% and undershooting the S&P 500's gain of 3.78%.
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 report is set to go public on July 24, 2024. On that day, Boston Scientific is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 9.43%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.02 billion, indicating a 11.68% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and a revenue of $15.99 billion, representing changes of +13.17% and +12.3%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Boston Scientific. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. As of now, Boston Scientific holds a Zacks Rank of #3 (Hold).
Looking at valuation, Boston Scientific is presently trading at a Forward P/E ratio of 33.47. This expresses a premium compared to the average Forward P/E of 22.18 of its industry.
We can additionally observe that BSX currently boasts a PEG ratio of 2.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products was holding an average PEG ratio of 2.27 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.