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Bristol Myers Squibb (BMY) Advances While Market Declines: Some Information for Investors

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Bristol Myers Squibb (BMY - Free Report) closed at $54.20 in the latest trading session, marking a +0.82% move from the prior day. This change outpaced the S&P 500's 0.17% loss on the day. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 0.04%.

The biopharmaceutical company's shares have seen an increase of 7.61% over the last month, surpassing the Medical sector's loss of 3.8% and the S&P 500's gain of 1.25%.

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 October 31, 2024. The company is forecasted to report an EPS of $1.57, showcasing a 21.5% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $11.29 billion, reflecting a 2.97% rise from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.77 per share and revenue of $46.82 billion, indicating changes of -89.75% and +4.04%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Bristol Myers Squibb is carrying a Zacks Rank of #3 (Hold).

From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 69.66. This denotes a premium relative to the industry's average Forward P/E of 23.19.

One should further note that BMY currently holds a PEG ratio of 13.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.13 at yesterday's closing price.

The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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