Boston Scientific Corporation ($BSX) Stock Forecast: Down 1.2% Today

What is Boston Scientific Corporation?

Boston Scientific Corporation (NYSE: BSX) operates in the medical technology industry and is known for its advanced medical solutions. The company's stock faced a significant downturn in the market today.

Why is Boston Scientific Corporation going down?

BSX stock is down 1.2% on Jul 18, 2024 15:22

• Analysts predict that Boston Scientific Corporation (BSX) will announce an increase in revenue and adjusted earnings for the second quarter. Despite these positive forecasts, the stock displayed a bearish trend, suggesting potential disappointment or underperformance in the upcoming earnings release.
• The absence of the necessary factors for a likely earnings outperformance may have contributed to the prevailing bearish sentiment around BSX today.
• Comparisons with other medical sector stocks like Novavax (NVAX) and the relative strength ratings of companies such as Inari Medical (NARI) and ICU Medical (ICUI) could have diverted investor attention from Boston Scientific, resulting in a negative impact on its stock value.

BSX Price Chart

BSX News

Will WATCHMAN Sales Aid Boston Scientific''s Q2 Earnings?

Boston Scientific Corporation (NYSE: BSX ) is scheduled to report second-quarter 2024 results on Jul 24, before the opening bell. In the last reported quarter, the company''s earnings per share of 56 cents exceeded the Zacks Consensus Estimate by 9.8%. BSX''s bottom line beat estimates in each of the trailing four quarters. The company delivered a trailing four-quarter earnings surprise of 7.49%, on average. Q2 Estimates The Zacks Consensus Estimate for second-quarter total revenues is pegged at $4.02 billion, suggesting an improvement of 11.7% from the prior-year quarter''s reported number. The consensus mark for adjusted earnings stands at 58 cents per share, implying a 9.4% rise from the year-ago quarter''s reported figure. For the second quarter of 2024, the company projected revenue growth in the range of approximately 10.5-12.5% on a reported basis (an increase of 10-12% organically). Adjusted earnings are expected in the range of 57-59 cents per share. Estimate Revision Trend Ahead of Earnings The Zacks Consensus Estimate for Boston Scientific''s second-quarter earnings has remained unchanged at 58 cents per share in the past 60 days.

https://www.benzinga.com/general/biotech/24/07/39799910/will-watchman-sales-aid-boston-scientifics-q2-earnings

Boston Scientific ( BSX ) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

Boston Scientific (BSX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

https://www.zacks.com/stock/news/2303525/boston-scientific-bsx-earnings-expected-to-grow-what-to-know-ahead-of-next-weeks-release

Are Medical Stocks Lagging Boston Scientific ( BSX ) This Year?

Here is how Boston Scientific (BSX) and Novavax (NVAX) have performed compared to their sector so far this year.

https://www.zacks.com/stock/news/2303355/are-medical-stocks-lagging-boston-scientific-bsx-this-year

Stocks With Rising Relative Strength: Inari Medical

In a welcome move, Inari Medical ( NARI ) saw its Relative Strength Rating improve from 68 to 77 on Wednesday.

https://www.investors.com/ibd-data-stories/stocks-with-rising-relative-strength-inari-medical-2/

ICU Medical Shows Rising Price Performance With Jump To 82 RS Rating

When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. ICU Medical ( ICUI ) is one stock that just reached the mark, now earning a score of 82.

https://www.investors.com/ibd-data-stories/icu-medical-shows-rising-price-performance-with-jump-to-82-rs-rating/

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Boston Scientific Corporation Price History

13.10.2023 - BSX Stock was up 2.8%

• Short interest in BSX has fallen, indicating a decrease in bearish sentiment towards the stock.
• Positive investor sentiment is driven by growing demand for WATCHMAN FLX devices and upbeat guidance.
• Decreased stock position by Diamond Hill Capital Management suggests a potential reduction in selling pressure.
• The company's focus on AI innovations in the medtech industry, as highlighted by Sandra Nagale, may have contributed to positive market sentiment.

27.10.2023 - BSX Stock was down 1.0%

• The bearish movement in BSX's stock today could be attributed to several factors:
• 1. Profit-taking: After a significant increase in the stock price over the past month and year, some investors may have decided to sell their shares and take profits, leading to a downward pressure on the stock.
• 2. Market sentiment: The overall market sentiment towards healthcare stocks may have turned negative, causing investors to sell off their positions in BSX and other healthcare companies.
• 3. Lack of positive news: While there have been recent acquisitions and advancements mentioned in the news articles, there may not have been any specific positive news or developments directly impacting BSX today, leading to a lack of catalysts to drive the stock price higher.
• 4. Technical factors: The stock's price movement could also be influenced by technical factors, such as resistance levels or trading patterns, which may have triggered selling pressure.
• Overall, the bearish movement in BSX's stock today could be a result of profit-taking, negative market sentiment, lack of positive news, and technical factors.

11.09.2023 - BSX Stock was down 2.1%

• The bearish movement in BSX today can be attributed to a combination of factors:
• 1. Technical Benchmark: an article from Investors Business Daily mentions that Integer Holdings, a competitor in the medical technology industry, has cleared a technical benchmark, indicating positive market sentiment towards their stock. This could have led investors to shift their focus away from BSX, resulting in a bearish movement.
• 2. Short Interest: an article from Benzinga highlights a decrease in BSX's short percent of float, indicating a reduction in bearish bets against the stock. However, the presence of short sellers could still be impacting the stock's performance, contributing to the bearish movement.
• 3. Value Comparison: an article from Zacks Commentary compares the value of BSX to another stock, PBH. If investors perceive PBH as a better value option, they may have chosen to reallocate their investments, causing a decline in BSX's price.
• Overall, the bearish movement in BSX today can be attributed to factors such as market sentiment towards competitors, short interest, and value comparisons with other stocks.

11.09.2023 - BSX Stock was down 5.1%

• The bearish movement in BSX today can be attributed to the following factors:
• 1. Profit-taking: After a period of consistent growth, investors may have decided to take profits, leading to a sell-off in the stock.
• 2. Market correction: The overall market may have experienced a downward trend, causing a negative impact on BSX and other stocks.
• 3. Technical factors: The technical benchmark of Integer Holdings, a competitor in the medical device industry, hitting an 80-plus RS rating may have drawn some investors' attention away from BSX, resulting in a decline in its stock price.
• Please note that the provided articles do not directly mention the bearish movement of BSX today.

24.03.2024 - BSX Stock was up 5.8%

• Boston Scientific (BSX) had a strong bullish movement today.
• This upward trend is linked to the company surpassing expectations in its first-quarter earnings report and providing optimistic guidance.
• First-quarter revenues of $3.86 billion exceeded the consensus estimate of $3.69 billion, demonstrating robust performance in core business areas.
• Shareholders responded positively to the positive earnings report, propelling the stock to achieve a 52-week high as they view Boston Scientific as a promising investment opportunity within the medical products industry.

24.03.2024 - BSX Stock was up 8.4%

• Boston Scientific (BSX) reported Q1 earnings and revenues that surpassed estimates, indicating strong financial performance and market confidence in the company's growth prospects.
• The positive earnings report and exceeding sales expectations propelled Boston Scientific's stock into buy zones, attracting investors and driving the bullish movement.
• The overall bullish market sentiment, with US broader indices up over 1% and stocks rising for the second consecutive day, also contributed to the upward momentum of BSX.
• Additionally, Boston Scientific received an IBD stock rating upgrade, further boosting investor confidence and interest in the company's stock.

28.06.2023 - BSX Stock was down 3.0%

• The bearish movement in BSX today can be attributed to a combination of factors:
• 1. Raised profit forecast: Despite raising its annual profit forecast, the market may have had higher expectations for Boston Scientific's earnings, leading to a sell-off.
• 2. Mixed performance in the medical sector: The comparison with other medical stocks, such as DexCom (DXCM), which may have been performing better, could have influenced the bearish sentiment towards BSX.
• 3. General market sentiment: The overall market sentiment, as indicated by the article mentioning other stocks declaring earnings, could have played a role in the bearish movement of BSX today.

11.02.2024 - BSX Stock was down 1.5%

• The stock of Boston Scientific (BSX) experienced a bearish movement despite being upgraded to a "buy" rating.
• The allegations against a former employee involved in a disturbing case of child abuse may have negatively impacted investor sentiment and contributed to the stock's decline.
• Despite the negative news surrounding the company, Boston Scientific has shown strong long-term performance, with a $1000 investment 10 years ago yielding significant returns.
• The market may have reacted to the news about Align Technology's improving technical performance, leading investors to shift focus away from Boston Scientific temporarily.

28.07.2023 - BSX Stock was up 1.5%

• The bullish movement in BSX stock today can be attributed to several factors:
• 1. Positive study results: The ADVENT Study of the FARAPULSE™ Pulsed Field Ablation System meeting primary efficacy and safety endpoints, presented at ESC Congress 2023 and published in The New England Journal of Medicine, likely boosted investor confidence in the company's innovative medical technology.
• 2. Global expansion: Boston Scientific's expansion of its Endoscopy business within MedSurg, driven by strong worldwide demand for its GI and pulmonary treatment options, indicates potential growth opportunities for the company.
• 3. Upgraded rating: Despite the downgrade by StockNews.com from a "buy" rating to a "hold" rating, other research analysts have issued positive research reports about the stock, suggesting that the overall sentiment towards BSX remains optimistic.
• 4. Strong financial performance: Boston Scientific's 56% increase in profit and an 81 RS rating after a year of growth may have attracted investors looking for high-performance portfolios.
• Overall, the bullish movement in BSX stock today can be attributed to positive study results, global expansion, positive research reports, and strong financial performance.

07.05.2024 - BSX Stock was up 1.9%

• Boston Scientific's stock showed a strong upward trend today, closing at $76.12, reflecting a +0.3% increase compared to the previous day.
• Concerns may have arisen initially due to an EVP selling over $500k in company stock; however, the overall positive market outlook and the company's solid fundamentals likely mitigated any apprehensions among investors.
• The company's consistent market outperformance over the last 15 years, with an average annual return of 14.9%, is a contributing factor to the high level of confidence and interest from investors.
• With an improved SmartSelect Composite Rating of 96, signaling that it is surpassing 96% of all stocks based on key criteria, Boston Scientific continues to receive favorable market sentiment.

01.06.2024 - BSX Stock was down 0.5%

• A conference call was announced by Boston Scientific to discuss its second-quarter 2024 results, which could have heightened investor anticipation and led to profit-taking.
• The positive news of securing a CE Mark for the DBS image-guided programming software might not have been sufficient to offset broader market trends or specific company performance concerns.
• The overall bearish movement in the market, particularly in the healthcare sector, could have influenced BSX's downward trajectory despite the positive developments within the company.
• The sector rotation away from tech and towards healthcare might have created uncertainty and volatility for BSX and contributed to the bearish market movement.

18.06.2024 - BSX Stock was down 1.2%

• Analysts predict that Boston Scientific Corporation (BSX) will announce an increase in revenue and adjusted earnings for the second quarter. Despite these positive forecasts, the stock displayed a bearish trend, suggesting potential disappointment or underperformance in the upcoming earnings release.
• The absence of the necessary factors for a likely earnings outperformance may have contributed to the prevailing bearish sentiment around BSX today.
• Comparisons with other medical sector stocks like Novavax (NVAX) and the relative strength ratings of companies such as Inari Medical (NARI) and ICU Medical (ICUI) could have diverted investor attention from Boston Scientific, resulting in a negative impact on its stock value.