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Bristol Myers Squibb (BMY) Gains As Market Dips: What You Should Know

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Bristol Myers Squibb (BMY - Free Report) closed at $76.55 in the latest trading session, marking a +0.1% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.14%.

Coming into today, shares of the biopharmaceutical company had lost 0.86% in the past month. In that same time, the Medical sector lost 5.23%, while the S&P 500 lost 3.32%.

Bristol Myers Squibb will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.90 per share. This would mark a year-over-year decline of 1.55%. Meanwhile, our latest consensus estimate is calling for revenue of $11.52 billion, down 1.57% from the prior-year quarter.

BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.56 per share and revenue of $46.32 billion. These results would represent year-over-year changes of +0.67% and -0.13%, respectively.

It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 10.11. This valuation marks a discount compared to its industry's average Forward P/E of 20.6.

Meanwhile, BMY's PEG ratio is currently 1.62. 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 1.09 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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