Why Boston Scientific (BSX) is a Top Momentum Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Boston Scientific (BSX)
Headquartered in Natick, MA and founded in 1979, Boston Scientific Corporation manufactures medical devices and products used in various interventional medical specialties worldwide. The company has adopted the organic as well as inorganic routes for success.
BSX sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is down 0.8% and up 2.1% over the past one-week and four-week period, respectively, and Boston Scientific has gained 40.1% in the last one-year period as well. Additionally, an average of 6,056,048 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, eight analysts revised their earnings estimate higher in the last 60 days for BSX, while the Zacks Consensus Estimate has increased $0.02 to $2.25 per share. BSX also boasts an average earnings surprise of 7.4%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding BSX to their portfolios.
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Boston Scientific Corporation (BSX) : Free Stock Analysis Report
