Boston Scientific (BSX) has put up double-digit sales and profit growth figures every quarter for at least the last two years. The medical device maker's stock Relative Strength (RS) Rating on Tuesday got an upgrade to 73, up from 70 the day before.
The upgraded rating shows that the Boston area-based company's stock tops 73% of all stocks for price performance over the last 52 weeks — a welcome improvement, but still shy of the 80 or higher score The IBD Methodology investors prefer to see. Its other ratings are outstanding.
Boston Scientific, based in Marlborough, a suburb of Boston, Mass., has a terrific 97 Earnings Per Share Rating, putting it in the top 3% of companies for recent and long-term profit growth. It carries a 92 Composite Rating and an A SMR Rating (sales + profit margins + return on equity).
Its C Accumulation/Distribution Rating shows institutional investors like ETFs and insurance funds are buying about as many shares as they are selling. However, the number of funds following BSX stock has risen the last three quarters in a row to 3,890 funds last quarter.
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Boston Scientific makes a variety of medical devices including heart stents and pacemakers, pain management devices and a host of other products.
Earnings-per-share growth fell last quarter from 34% to 21%, or 75 cents per share. Revenue growth rose from 21% to 23%, or a record $5.06 billion.
Boston Scientific formed a flat base from May to July and its stock rose to an all-time high 108.94 on July 23. See if the stock goes on to build a chart pattern that could kick off a new climb. Its stock was down a small fraction Tuesday.
Boston Scientific stock earns the No. 5 rank among its peers in the 125-stock Medical-Products industry group. Insulet (PODD) is the No. 1-ranked stock in the group.
IBD's unique Relative Strength Rating identifies market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
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