Boston Scientific (BSX) Registers a Bigger Fall Than the Market: Important Facts to Note

In the latest close session, Boston Scientific (BSX) was down 2.5% at $44.46. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq lost 0.43%. Shares of the medical device manufacturer witnessed a loss of 20.89% over the previous month, trailing the performance of the Medical sector with its gain of 1.97%, and the S&P 500's loss of 1.34%.Market participants will be closely following the financial results of Boston Scientific in its upcoming release. It is anticipated that the company will report an EPS of $0.83, marking a 10.67% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $5.39 billion, up 6.54% from the prior-year quarter. For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.36 per share and a revenue of $21.61 billion, signifying shifts of +9.8% and +7.65%, respectively, from the last year. It's also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% lower. As of now, Boston Scientific holds a Zacks Rank of #4 (Sell). Valuation is also important, so investors should note that Boston Scientific has a Forward P/E ratio of 13.58 right now. Its industry sports an average Forward P/E of 17.47, so one might conclude that Boston Scientific is trading at a discount comparatively. Meanwhile, BSX's PEG ratio is currently 0.87. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BSX's industry had an average PEG ratio of 1.56 as of yesterday's close. The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 175, placing it within the bottom 29% of over 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. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks