In the latest trading session, Boston Scientific (BSX) closed at $98.90, marking a +1.79% move from the previous day. This move outpaced the S&P 500's daily gain of 0.64%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 0.31%.

Shares of the medical device manufacturer have depreciated by 8.43% over the course of the past month, underperforming the Medical sector's loss of 0.88% and the S&P 500's loss of 7.69%.

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 $0.67 per share. This would mark year-over-year growth of 19.64%. Meanwhile, the latest consensus estimate predicts the revenue to be $4.56 billion, indicating a 18.2% increase compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.85 per share and revenue of $19.05 billion. These totals would mark changes of +13.55% and +13.75%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Boston Scientific possesses a Zacks Rank of #2 (Buy).

In terms of valuation, Boston Scientific is currently trading at a Forward P/E ratio of 34.1. This expresses a premium compared to the average Forward P/E of 17.83 of its industry.

We can additionally observe that BSX currently boasts a PEG ratio of 2.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.07 based on yesterday's closing prices.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 44% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Boston Scientific Corporation (BSX) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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