The S&P500's Drop Matches BSX's 9% Value Decrease

As the S&P500 has dropped %, which is in accord with BSX's drop in value of 9%.

   UKRAINE - 2021/06/17: In this photo illustration, a Boston Scientific Corporation logo seen ... [+] displayed on a smartphone and pc screen in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) 
  SOPA Images/LightRocket via Getty Images
In this photo illustration, a Boston Scientific Corporation logo can be seen ... [

Boston Scientific stock (NYSE: BSX) has fallen 9% over the last month, in line with the broader S&P500, which is down 8%. The recent fall can primarily be attributed to market weakness caused by concerns over slowing economic growth.The performance of Boston Scientific was also in line with its peers, including Medtronic,

Over the last few quarters, Boston Scientific has seen a rise in elective procedure volume. It also acquired Baylis Medical in Q1 22, which should boost its overall revenue growth going forward. Despite the ongoing supply chain disruption, the company posted upbeat Q1 results and raised its full-year outlook. BSX stock faces headwinds from the current weakness in broader markets. The S&P500 has now entered bear market territory with rising concerns of slowing economic growth given high inflation, Fed action, and supply chain disruptions."

Since BSX stock has dropped 9% over the past month, will it continue its downward trajectory, or is a rise imminent? Based on historical performance, there's a high chance of a rise for Boston Scientific stock over the next month. Of 102 instances in the last ten years that BSX stock saw a twenty-one-day fall of 9% or more, 74 resulted in BSX stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 74 out of 102, or about a 73% chance of a rise in BSX stock over the next month. See our analysis>

The event probability and chance of rise can be calculated using the last ten years' data

  • In the following five days, the stock increased in value on 53% of the occasions after it had risen by 1% or more over five days.
  • The stock rose on 58% of the days following a ten-day period during which it had moved 3% or more.
  • Over the next twenty-one days following a move of -9% or more in the stock, the stock rose in 73% of the cases.

This pattern indicates that BSX stock will probably increase over the next five, ten, and next month.

The following paragraph is a summary of the first paragraph.

Boston Scientific's stock has performed well in the recent past, outpacing its peers.

  • AbbVie's stock rose the most, at 2.3% over the 5-day period; Illumina's fell the furthest, by 4.7%.
  • ABT's ten-day return was the highest at 3.7%; ILMN's was the lowest at -4.8%.
  • On the 21st day, ABT was down 7.5%, and ILMN was down 23.0%.

The Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. For example, the stock is valued at a significantly higher level than

BSX stock has seen a 9% fall this year, but could it drop further? See how low Boston Scientific stock can go by comparing its decline in previous market crashes. Here is a

If you're looking for a more balanced portfolio instead, our

   BSX Return Compared With Trefis Multi-Strategy Portfolio  
Trefis's multi-strategy portfolio, which is a subset of the BSX Return portfolio, outperformed the market.