Boston Scientific Jumps Ahead of Earnings

BSX develops, manufactures, and markets medical devices. The company primarily operates through its MedSurg (endoscopy, urology, and neuromodulation) and Cardiovascular (cardiology and peripheral interventions) business areas. In its quest for growth, BSX recently completed its third corporate acquisition in just more than a year and there could be more ahead.

The company’s third-quarter earnings report for fiscal 2024 showed strong sales growth and adjusted per-share earnings of $0.63 (a 27% rise). BSX’s consolidated revenue jumped 19.4% from a year prior. Also, with $822 million in cash on hand and guidance of 15% annual revenue growth, the company is primed for more growth (its next earnings announcement is slated for Feb. 5).

It’s no wonder BSX shares are up almost 60% in a year – and they could rise more. MAPsignals data shows how Big Money investors are betting heavily on the forward picture of the stock.

Big Money Loves Boston Scientific

Institutional volumes reveal plenty. Recently, BSX has enjoyed strong investor demand, which we believe to be institutional support.

Each green bar signals unusually large volumes in BSX shares. They reflect our proprietary inflow signal, pushing the stock higher:

Plenty of health care names are under accumulation right now. But there’s a powerful fundamental story happening with Boston Scientific.

Boston Scientific Fundamental Analysis

Institutional support and a healthy fundamental backdrop make this company worth investigating. As you can see, BSX has had strong sales and earnings growth:

• 3-year sales growth rate (+13%)
• 3-year EPS growth rate (+52.8%)

Source: FactSet

Also, EPS is estimated to ramp higher this year by +13.8%.

Now it makes sense why the stock has been powering to new heights. BSX has a track record of strong financial performance.

Marrying great fundamentals with our proprietary software has found some big winning stocks over the long term.

Boston Scientific has been a top-rated stock at MAPsignals. That means the stock has unusual buy pressure and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report multiple times in the last year, including just recently. The blue bars below show when BSX was a top pick…rising with time:

Tracking unusual volumes reveals the power of money flows.

This is a trait that most outlier stocks exhibit…the best of the best. Big Money demand drives stocks upward.

Boston Scientific Price Prediction

The BSX rally isn’t new at all. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no position in BSX at the time of publication.

If you are a Registered Investment Advisor (RIA) or are a serious investor, take your investing to the next level, learn more about the MAPsignals process here.