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

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Bristol Myers Squibb (BMY) closed at $77.69 in the latest trading session, marking a +1.49% move from the prior day. This move outpaced the S&P 500's daily gain of 0.95%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.23%.

Coming into today, shares of the biopharmaceutical company had lost 0.89% in the past month. In that same time, the Medical sector lost 3.97%, while the S&P 500 lost 3.49%.

Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be July 27, 2022. The company is expected to report EPS of $1.90, down 1.55% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.52 billion, down 1.57% from the year-ago period.

BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.56 per share and revenue of $46.32 billion. These results would represent year-over-year changes of +0.67% and -0.13%, respectively.

It is also important to note the recent changes to analyst estimates for Bristol Myers Squibb. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% lower. Bristol Myers Squibb is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Bristol Myers Squibb has a Forward P/E ratio of 10.12 right now. This represents a discount compared to its industry's average Forward P/E of 20.82.

It is also worth noting that BMY currently has a PEG ratio of 1.62. 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 Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.08 as of yesterday's close.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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