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Bristol Myers Squibb (BMY) Rises Higher Than Market: Key Facts

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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $53.25, moving +1.33% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. Meanwhile, the Dow experienced a rise of 1.22%, and the technology-dominated Nasdaq saw an increase of 0.51%.

Shares of the biopharmaceutical company have appreciated by 4.04% over the course of the past month, outperforming the Medical sector's loss of 0.63% and the S&P 500's gain of 2.84%.

Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 25, 2024. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.53 per share. This would mark a year-over-year decline of 25.37%. Meanwhile, the latest consensus estimate predicts the revenue to be $11.46 billion, indicating a 1.11% increase compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.61 per share and a revenue of $46.11 billion, indicating changes of -11.98% and +2.45%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. As of now, Bristol Myers Squibb holds a Zacks Rank of #3 (Hold).

Looking at valuation, Bristol Myers Squibb is presently trading at a Forward P/E ratio of 7.95. This signifies a discount in comparison to the average Forward P/E of 23.53 for its industry.

It's also important to note that BMY currently trades at a PEG ratio of 1.59. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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