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

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Zacks Equity Research
·3 min read
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Bristol-Myers Squibb (BMY) closed at $64.83 in the latest trading session, marking a +0.42% move from the prior day. This change outpaced the S&P 500's 0.36% gain on the day. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq gained 0.69%.

Coming into today, shares of the biopharmaceutical company had gained 5.58% in the past month. In that same time, the Medical sector gained 3.29%, while the S&P 500 gained 4.27%.

Wall Street will be looking for positivity from BMY as it approaches its next earnings report date. This is expected to be February 4, 2021. In that report, analysts expect BMY to post earnings of $1.37 per share. This would mark year-over-year growth of 12.3%. Our most recent consensus estimate is calling for quarterly revenue of $10.56 billion, up 32.94% from the year-ago period.

It is also important to note the recent changes to analyst estimates for BMY. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% higher. BMY is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note BMY's current valuation metrics, including its Forward P/E ratio of 8.77. For comparison, its industry has an average Forward P/E of 30.99, which means BMY is trading at a discount to the group.

Also, we should mention that BMY has a PEG ratio of 0.96. 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. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.24 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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