In the latest trading session, Boston Scientific (BSX) closed at $84.54, marking a +0.86% move from the previous day. This move lagged the S&P 500's daily gain of 0.9%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%.

Heading into today, shares of the medical device manufacturer had gained 3.01% over the past month, outpacing the Medical sector's loss of 4.05% and lagging the S&P 500's gain of 3.15% in that time.

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 October 23, 2024. The company's earnings per share (EPS) are projected to be $0.58, reflecting a 16% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.03 billion, up 14.36% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.40 per share and revenue of $16.26 billion, indicating changes of +17.07% and +14.22%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Boston Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% upward. As of now, Boston Scientific holds a Zacks Rank of #2 (Buy).

Valuation is also important, so investors should note that Boston Scientific has a Forward P/E ratio of 34.92 right now. This denotes a premium relative to the industry's average Forward P/E of 24.09.

One should further note that BSX currently holds a PEG ratio of 2.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 1.93 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 49, positioning it in the top 20% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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