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Chart of the Day: Boston Scientific - Revenue Growth Potential
The Chart of the Day belongs to the healthcare company Boston Scientific (BSX). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 11/ 14 the stock gained 12.89%.
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems. It also provides medical technologies to diagnose and treat rate and rhythm disorders of the heart comprising 3-D cardiac mapping and navigation solutions, ablation catheters, diagnostic catheters, mapping catheters, intracardiac ultrasound catheters, delivery sheaths, and other accessories; spinal cord stimulator systems for the management of chronic pain; indirect decompression systems; and deep brain stimulation systems. In addition, the company offers interventional cardiology products, that uses in the treatment of coronary artery disease and aortic valve conditions. Further, it provides stents, balloon catheters, guidewires, atherectomy, and thrombectomy systems to treat arterial and venous diseases; and peripheral embolization devices, radioactive microspheres, cryotherapy ablation systems, and micro and drainage catheters to treat cancer. The company was incorporated in 1979 and is headquartered in Marlborough, Massachusetts.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 35.90+ Weighted Alpha
- 32.46% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 9.27% in the last month
- Relative Strength Index 82.36%
- Technical support level at $59.74
- Recently traded at $60.96 with 50 day moving average of $55.80
Fundamental Factors:
- Market Cap $88.27 billion
- P/E 30.74
- Wall Street projects Revenue will grow 11.30% this year and another 8.60% next year
- Earnings are estimated to increase 14.90% this year, an additional 11.40% next year then continue to compound at an annual rate of 12.40% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 20 strong buy, 7 buy and 5 hold recommendations on the stock
- Analysts price targets are $55 to $77 with a consensus of $64 - that's 8% above today's price
- The individual investors following the stock on Motley Fool voted 741 to 184 for the stock to beat the market with the most experienced investors voting 147 to 14 for the same result
- Value Line gives the stock its below average rating of 4
- CFRAs MarketScope has a 4 star buy rating with a 12 month price target of $63
- 38,600 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
