Boston Scientific (BSX) closed the latest trading day at $102.67, indicating a +1.97% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 1.77%. On the other hand, the Dow registered a gain of 1.42%, and the technology-centric Nasdaq increased by 2.28%.

The medical device manufacturer's shares have seen a decrease of 3.64% over the last month, not keeping up with the Medical sector's loss of 1.17% and outstripping the S&P 500's loss of 5.73%.

The investment community will be closely monitoring the performance of Boston Scientific in its forthcoming earnings report. The company is predicted to post an EPS of $0.67, indicating a 19.64% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.56 billion, up 18.2% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $2.85 per share and a revenue of $19.05 billion, demonstrating changes of +13.55% and +13.75%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Boston Scientific. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Boston Scientific currently has a Zacks Rank of #2 (Buy).

In terms of valuation, Boston Scientific is currently trading at a Forward P/E ratio of 35.34. This expresses a premium compared to the average Forward P/E of 18.38 of its industry.

We can additionally observe that BSX currently boasts a PEG ratio of 2.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Products industry stood at 2.09 at the close of the market yesterday.

The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 140, positioning it in the bottom 45% 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.

To follow BSX in the coming trading sessions, be sure to utilize Zacks.com.

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

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