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

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Bristol Myers Squibb (BMY - Free Report) closed the most recent trading day at $40.81, moving -0.39% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.

Prior to today's trading, shares of the biopharmaceutical company had lost 5.51% over the past month. This has lagged the Medical sector's gain of 0.11% and the S&P 500's gain of 3.34% in that time.

The investment community will be paying close attention to the earnings performance of Bristol Myers Squibb in its upcoming release. The company is slated to reveal its earnings on July 26, 2024. The company is predicted to post an EPS of $1.67, indicating a 4.57% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $11.48 billion, indicating a 2.23% upward movement from the same quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.59 per share and a revenue of $46.12 billion, representing changes of -92.14% and +2.48%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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 69.35. This denotes a premium relative to the industry's average Forward P/E of 23.57.

Meanwhile, BMY's PEG ratio is currently 13.87. 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. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.97 at the close of the market yesterday.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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