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Boston Scientific on Blue Dot Scan – Breaking Out to New Highs

by | Mar 21, 2023 | #ibdpartner, #investorsbusinessdaily, #MarketSmith | 0 comments

Boston Scientific

The Relative Strength (RS) Rating for Boston Scientific (BSX) jumped into a new percentile on Monday, with a rise from 82 to 90. 

When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.

IBD’s unique rating measures share price action with a 1 (worst) to 99 (best) score. The score shows how a stock’s price behavior over the last 52 weeks compares to all the other stocks in our database.

Over 100 years of market history reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating as they launch their biggest climbs.

Boston Scientific

Boston Scientific (BSX) has performed well with earnings growth over the last 8 quarters, with revenue growth of 3.7%.

Boston Scientific BSX

The company said it expects first quarter earnings of $0.42 to $0.44 per share on revenue of $3.12 billion to $3.18 billion and 2023 earnings of $1.86 to $1.93 per share on revenue of $13.32 billion to $13.57 billion. The current consensus estimate is earnings of $0.44 per share on revenue of $3.17 billion for the quarter ending March 31, 2023 and earnings of $1.92 per share on revenue of $13.46 billion for the year ending December 31, 2023. 

Boston Scientific Inc is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.

Boston Scientific earns the No. 13 rank among its peers in the Medical-Products industry group.

Number 1 ranked Lantheus Holdings (LNTH), a stock we’ve been trading recently, is among the group’s highest-rated stocks. In addition, Lantheus Holdings sports a 98 Composite Rating by IBD.

Number 4 ranked Stryker Corp (SYK) develops orthopedic implants, surgical instruments, and emergency equipment.

 

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Happy Trading, 

 

Vinny

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