BOSTON SCIENTIFIC CORP (NYSE:BSX) – A Strong Contender in Growth and Momentum Investing

BOSTON SCIENTIFIC CORP (NYSE:BSX) has emerged as a compelling candidate for investors following the Minervini Trend Template while also meeting high-growth momentum criteria. The company, a leader in medical device innovation, demonstrates both technical strength and fundamental growth potential.

Why BSX Fits the Minervini Trend Template

The Minervini Trend Template identifies stocks in strong uptrends with favorable technical conditions. BSX meets several key criteria:

• Price Above Key Moving Averages: The stock trades above its 50-day ($103.46), 150-day ($100.09), and 200-day ($96.91) moving averages, confirming a bullish trend.
• Upward-Sloping Moving Averages: The 150-day and 200-day moving averages are trending upward, reinforcing long-term strength.
• Relative Strength: With a ChartMill Relative Strength score of 78.02, BSX outperforms 78% of stocks, indicating strong momentum.
• Price Near 52-Week High: At $103.64, BSX is within 3.6% of its 52-week high ($107.53), a sign of sustained upward momentum.

High Growth Momentum Fundamentals

Beyond technical strength, BSX exhibits robust growth metrics:

• Earnings Growth: EPS grew 26.2% year-over-year (TTM), with quarterly EPS growth accelerating to 33.9% in the most recent quarter.
• Revenue Expansion: Sales increased 19.4% (TTM), with the latest quarter showing 20.9% growth.
• Profit Margin Improvement: Quarterly profit margins expanded from 7.86% to 14.45% over the past year.
• Analyst Upgrades: EPS estimates for next year have been revised upward by 2.03% in the last three months.

Technical Outlook

According to ChartMill’s technical report, BSX has a technical rating of 6 (neutral to positive) but shows a strong setup rating of 8, indicating a consolidation phase with potential for a breakout. Key support lies near $102.64-$103.56, while resistance is around $106.11-$107.41. A move above $107.42 could signal a new uptrend.

For a deeper technical analysis, review the full technical report here.

Our High Growth Momentum + Trend Template screener lists more stocks with similar growth and momentum characteristics.

Disclaimer

This is not investment advice. Always conduct your own analysis before making investment decisions.