On Monday, Boston Scientific stock got an upgrade to its Relative Strength (RS) Rating, from 69 to 74.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength.
IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matched up against all other stocks.
Decades of market research reveals that the best stocks typically have an RS Rating of at least 80 as they begin their largest runs. See if Boston Scientific stock can continue to rebound and clear that threshold.
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Is Boston Scientific Stock A Buy?
Boston Scientific stock has been trading in a flat base and is not currently offering a proper buying opportunity at this time. See if the medical device stock goes on to form a chart pattern that could spark a new run. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The medical device provider reported 20% earnings growth in the latest quarterly report, while sales growth came in at 11%. Look for the next report on or around Oct. 26.
Boston Scientific stock holds the No. 3 rank among its peers in the Medical-Products industry group. Boston Scientific and Lantheus Holdings are also among the group's highest-rated stocks.
