NEW YORK (TheStreet) -- Shares of Boston Scientific (BSX - Get Report) were falling late Tuesday afternoon ahead of the medical device company's 2016 third quarter earnings report, due out before the opening bell on Wednesday.

Analysts surveyed by FactSet are looking for the Marlborough, MA-based company to post earnings of 27 cents per share on $2.07 billion in revenue.

In the year-ago period, Boston Scientific reported earnings of 24 cents per share on revenue of $1.89 billion.

Barclays said recently that the medical technology sector "stands out in a turbulent market due to its defensive characteristics."

The firm noted that medical technology stocks have outperformed the broader market and other healthcare segments over the past year.

"While some investors are looking at sectors that have lagged to outperform in 2017, we think medical technology stocks can continue to grind higher, driven by a continuation of underlying trends that have helped 2016," Barclays added.

Boston Scientific is one of the firm's favorite large cap companies heading into its third quarter earnings report. Barclays has an "overweight" rating and $27 price target on the stock.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "hold" with a ratings score of C.

The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and generally higher debt management risk.

You can view the full analysis from the report here: BSX