Bristol Myers Squibb (BMY) Ascends While Market Falls: Some Facts to Note

Bristol Myers Squibb (BMY) ended the recent trading session at $62.37, demonstrating a +2.08% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.43%. Elsewhere, the Dow lost 1.05%, while the tech-heavy Nasdaq lost 0.92%.

Coming into today, shares of the biopharmaceutical company had gained 12.56% in the past month. In that same time, the Medical sector lost 1.34%, while the S&P 500 lost 0.5%.

Investors will be eagerly watching for the performance of Bristol Myers Squibb in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.46, marking a 18.89% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.86 billion, down 3.02% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.24 per share and revenue of $47.02 billion, indicating changes of +1.46% and -2.44%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.67% upward. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).

Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 9.8. This valuation marks a discount compared to its industry average Forward P/E of 20.16.

We can additionally observe that BMY currently boasts a PEG ratio of 0.18. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 1.54.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 36% 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.

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

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

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

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research