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

The most recent trading session ended with Bristol Myers Squibb (BMY) standing at $52.92, reflecting a -0.26% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.Prior to today's trading, shares of the biopharmaceutical company had gained 6.23% over the past month. This has outpaced the Medical sector's loss of 3.79% and the S&P 500's gain of 1.47% in that time.The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's earnings report is expected on October 31, 2024. The company is forecasted to report an EPS of $1.50, showcasing a 25% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $11.3 billion, indicating a 3.02% growth compared to the corresponding quarter of the prior year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.72 per share and a revenue of $46.85 billion, indicating changes of -90.41% and +4.1%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bristol Myers Squibb. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 6.48% lower within the past month. At present, Bristol Myers Squibb boasts a Zacks Rank of #3 (Hold).From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 73.52. Its industry sports an average Forward P/E of 22.4, so one might conclude that Bristol Myers Squibb is trading at a premium comparatively.Meanwhile, BMY's PEG ratio is currently 14.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 2.37 at the close of the market yesterday.The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.The Zacks Industry Rank is ordered 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bristol Myers Squibb Company (BMY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks