BOSTON SCIENTIFIC CORP (NYSE:BSX) – A High Growth Momentum Stock with Strong Technical Setup

BOSTON SCIENTIFIC CORP (NYSE:BSX) stands out as a high-growth momentum candidate with a solid technical setup, making it an interesting prospect for investors seeking both earnings momentum and favorable chart patterns. The company’s strong fundamentals, combined with its technical consolidation, suggest potential for further upside.

Growth Momentum Highlights

• Earnings Growth: BSX reported a 26.2% year-over-year increase in EPS (TTM), with recent quarterly growth accelerating to 33.9%.
• Revenue Expansion: Sales grew 19.4% over the past year, with the latest quarter showing a 20.9% jump.
• Profit Margin Expansion: Quarterly profit margins improved from 7.9% a year ago to 14.5% in the most recent quarter.
• Positive Revisions: Analysts have raised next-year EPS estimates by 2.1% over the past three months.
• Consistent Earnings Beats: BSX has surpassed EPS estimates in each of the last four quarters, with an average beat of 7.1%.

Technical Strength & Setup

BSX holds a Technical Rating of 7, reflecting a positive long-term trend despite recent consolidation. Key observations from the technical report include:

• Support Levels: Multiple support zones exist between $89.25 and $101.27, providing downside protection.
• Consolidation Pattern: Prices have been trading in a range between $98 and $106.67, reducing volatility and forming a potential breakout base.
• Relative Strength: BSX outperforms 82% of all stocks over the past year and ranks in the top 19% of its industry.
• Setup Quality: The stock has a Setup Rating of 7, indicating a tradable consolidation with a clear entry point above $105.79 and a stop-loss level near $99.49.

Why This Combination Matters

High-growth stocks with strong technical setups often present favorable risk/reward opportunities. BSX’s improving fundamentals, combined with a well-defined price structure, suggest it could be poised for a breakout if market conditions remain supportive.

For more high-growth momentum stocks with strong technical setups, check our High Growth Momentum Breakout Setups Screen.

Disclaimer

This is not investment advice. Always conduct your own research and consider your risk tolerance before making investment decisions.