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Bristol Myers Squibb (BMY) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Bristol Myers Squibb (BMY - Free Report) closed at $66.74, marking a +1.35% move from the previous day. This move outpaced the S&P 500's daily gain of 0.33%.

Coming into today, shares of the biopharmaceutical company had gained 0.21% in the past month. In that same time, the Medical sector gained 2.77%, while the S&P 500 gained 1.74%.

BMY will be looking to display strength as it nears its next earnings release, which is expected to be July 28, 2021. On that day, BMY is projected to report earnings of $1.92 per share, which would represent year-over-year growth of 17.79%. Our most recent consensus estimate is calling for quarterly revenue of $11.33 billion, up 11.84% from the year-ago period.

BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.46 per share and revenue of $46 billion. These results would represent year-over-year changes of +15.84% and +8.18%, respectively.

It is also important to note the recent changes to analyst estimates for BMY. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% higher. BMY is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, BMY currently has a Forward P/E ratio of 8.83. This valuation marks a discount compared to its industry's average Forward P/E of 22.9.

We can also see that BMY currently has a PEG ratio of 1.27. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.45 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 17% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.


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