Boston Scientific Stock Forecast - Naive Prediction

BSX Stock  USD 68.49  0.13  0.19%   
The Naive Prediction forecasted value of Boston Scientific Corp on the next trading day is expected to be 69.54 with a mean absolute deviation of  0.47  and the sum of the absolute errors of 29.21. Boston Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Boston Scientific stock prices and determine the direction of Boston Scientific Corp's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Boston Scientific's historical fundamentals, such as revenue growth or operating cash flow patterns. Although Boston Scientific's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Boston Scientific's systematic risk associated with finding meaningful patterns of Boston Scientific fundamentals over time.
Check out Historical Fundamental Analysis of Boston Scientific to cross-verify your projections.
  
At this time, Boston Scientific's Inventory Turnover is fairly stable compared to the past year. Fixed Asset Turnover is likely to rise to 5.30 in 2024, whereas Payables Turnover is likely to drop 4.38 in 2024. . Net Income Applicable To Common Shares is likely to rise to about 775.2 M in 2024, whereas Common Stock Shares Outstanding is likely to drop slightly above 1.2 B in 2024.

Open Interest Against 2024-04-19 Boston Option Contracts

Although open interest is a measure utilized in the options markets, it could be used to forecast Boston Scientific's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest in Boston Scientific's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Boston Scientific stock based on available contracts left at the end of a trading day.
Please note that to derive more accurate forecasting about market movement from the current Boston Scientific's open interest, investors have to compare it to Boston Scientific's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Boston Scientific is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Boston. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in Boston Scientific cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Boston Scientific's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Boston Scientific's price structures and extracts relationships that further increase the generated results' accuracy.
A naive forecasting model for Boston Scientific is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of Boston Scientific Corp value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period.

Boston Scientific Naive Prediction Price Forecast For the 30th of March

Given 90 days horizon, the Naive Prediction forecasted value of Boston Scientific Corp on the next trading day is expected to be 69.54 with a mean absolute deviation of 0.47, mean absolute percentage error of 0.35, and the sum of the absolute errors of 29.21.
Please note that although there have been many attempts to predict Boston Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Boston Scientific's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Boston Scientific Stock Forecast Pattern

Backtest Boston ScientificBoston Scientific Price PredictionBuy or Sell Advice 

Boston Scientific Forecasted Value

In the context of forecasting Boston Scientific's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. Boston Scientific's downside and upside margins for the forecasting period are 68.58 and 70.51, respectively. We have considered Boston Scientific's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Market Value
68.49
69.54
Expected Value
70.51
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Boston Scientific stock data series using in forecasting. Note that when a statistical model is used to represent Boston Scientific stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.
AICAkaike Information Criteria118.8903
BiasArithmetic mean of the errors None
MADMean absolute deviation0.4712
MAPEMean absolute percentage error0.0074
SAESum of the absolute errors29.2128
This model is not at all useful as a medium-long range forecasting tool of Boston Scientific Corp. This model is simplistic and is included partly for completeness and partly because of its simplicity. It is unlikely that you'll want to use this model directly to predict Boston Scientific. Instead, consider using either the moving average model or the more general weighted moving average model with a higher (i.e., greater than 1) number of periods, and possibly a different set of weights.

Predictive Modules for Boston Scientific

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Boston Scientific Corp. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Boston Scientific's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
67.4568.4169.37
Details
Intrinsic
Valuation
LowRealHigh
68.4469.4070.36
Details
Bollinger
Band Projection (param)
LowMiddleHigh
65.8667.2368.60
Details
33 Analysts
Consensus
LowTargetHigh
55.6761.1867.91
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Boston Scientific. Your research has to be compared to or analyzed against Boston Scientific's peers to derive any actionable benefits. When done correctly, Boston Scientific's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Boston Scientific Corp.

Other Forecasting Options for Boston Scientific

For every potential investor in Boston, whether a beginner or expert, Boston Scientific's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Boston Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Boston. Basic forecasting techniques help filter out the noise by identifying Boston Scientific's price trends.

Boston Scientific Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Boston Scientific stock to make a market-neutral strategy. Peer analysis of Boston Scientific could also be used in its relative valuation, which is a method of valuing Boston Scientific by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Boston Scientific Corp Technical and Predictive Analytics

The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Boston Scientific's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Boston Scientific's current price.

Boston Scientific Market Strength Events

Market strength indicators help investors to evaluate how Boston Scientific stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Boston Scientific shares will generate the highest return on investment. By undertsting and applying Boston Scientific stock market strength indicators, traders can identify Boston Scientific Corp entry and exit signals to maximize returns.

Boston Scientific Risk Indicators

The analysis of Boston Scientific's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Boston Scientific's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting boston stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Boston Scientific Investors Sentiment

The influence of Boston Scientific's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Boston. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Boston Scientific's public news can be used to forecast risks associated with an investment in Boston. The trend in average sentiment can be used to explain how an investor holding Boston can time the market purely based on public headlines and social activities around Boston Scientific Corp. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Boston Scientific's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Boston Scientific's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Boston Scientific's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Boston Scientific.

Boston Scientific Implied Volatility

    
  18.08  
Boston Scientific's implied volatility exposes the market's sentiment of Boston Scientific Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Boston Scientific's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Boston Scientific stock will not fluctuate a lot when Boston Scientific's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Boston Scientific in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Boston Scientific's short interest history, or implied volatility extrapolated from Boston Scientific options trading.

Pair Trading with Boston Scientific

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Boston Scientific position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Boston Scientific will appreciate offsetting losses from the drop in the long position's value.

Moving together with Boston Stock

  0.62COO Cooper Companies Financial Report 6th of June 2024 PairCorr

Moving against Boston Stock

  0.89PHG Koninklijke Philips Financial Report 22nd of April 2024 PairCorr
  0.87PIIIW P3 Health PartnersPairCorr
  0.82MCRB Seres Therapeutics Financial Report 14th of May 2024 PairCorr
  0.81MASS 908 Devices Financial Report 14th of May 2024 PairCorr
  0.77NEOG Neogen Report 4th of April 2024 PairCorr
The ability to find closely correlated positions to Boston Scientific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boston Scientific when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Boston Scientific - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Boston Scientific Corp to buy it.
The correlation of Boston Scientific is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Boston Scientific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Boston Scientific Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Boston Scientific can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Boston Scientific Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Boston Scientific's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Boston Scientific Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Boston Scientific Corp Stock:
Check out Historical Fundamental Analysis of Boston Scientific to cross-verify your projections.
You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.

Complementary Tools for Boston Stock analysis

When running Boston Scientific's price analysis, check to measure Boston Scientific's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Boston Scientific is operating at the current time. Most of Boston Scientific's value examination focuses on studying past and present price action to predict the probability of Boston Scientific's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Boston Scientific's price. Additionally, you may evaluate how the addition of Boston Scientific to your portfolios can decrease your overall portfolio volatility.
Share Portfolio
Track or share privately all of your investments from the convenience of any device
Commodity Directory
Find actively traded commodities issued by global exchanges
ETF Categories
List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
Commodity Channel
Use Commodity Channel Index to analyze current equity momentum
Alpha Finder
Use alpha and beta coefficients to find investment opportunities after accounting for the risk
Risk-Return Analysis
View associations between returns expected from investment and the risk you assume
Is Boston Scientific's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Boston Scientific. If investors know Boston will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Boston Scientific listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
2.856
Earnings Share
1.07
Revenue Per Share
9.8
Quarterly Revenue Growth
0.149
Return On Assets
0.0447
The market value of Boston Scientific Corp is measured differently than its book value, which is the value of Boston that is recorded on the company's balance sheet. Investors also form their own opinion of Boston Scientific's value that differs from its market value or its book value, called intrinsic value, which is Boston Scientific's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Boston Scientific's market value can be influenced by many factors that don't directly affect Boston Scientific's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Boston Scientific's value and its price as these two are different measures arrived at by different means. Investors typically determine if Boston Scientific is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Boston Scientific's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.