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

Bristol Myers Squibb (BMY) closed at $77.56 in the latest trading session, marking a +0.36% move from the prior day. This change outpaced the S&P 500's 1.48% loss on the day. Meanwhile, the Dow lost 1.05%, and the Nasdaq, a tech-heavy index, lost 0.46%.

Coming into today, shares of the biopharmaceutical company had gained 8.27% in the past month. In that same time, the Medical sector gained 0.83%, while the S&P 500 gained 0.08%.

Wall Street will be looking for positivity from Bristol Myers Squibb as it approaches its next earnings report date. This is expected to be April 29, 2022. In that report, analysts expect Bristol Myers Squibb to post earnings of $1.92 per share. This would mark year-over-year growth of 10.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.26 billion, up 1.66% from the year-ago period.

BMY's full-year Zacks Consensus Estimates are calling for earnings of $7.80 per share and revenue of $46.82 billion. These results would represent year-over-year changes of +3.86% and +0.94%, respectively.

Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Bristol Myers Squibb currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Bristol Myers Squibb is currently trading at a Forward P/E ratio of 9.91. Its industry sports an average Forward P/E of 23.34, so we one might conclude that Bristol Myers Squibb is trading at a discount comparatively.

Investors should also note that BMY has a PEG ratio of 1.47 right now. 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 was holding an average PEG ratio of 1.31 at yesterday's closing price.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.

To follow BMY in the coming trading sessions, be sure to utilize Zacks.com.

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