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

In the latest trading session, Bristol-Myers Squibb (BMY) closed at $66.54, marking a +0.79% move from the previous day. This move outpaced the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 0.87%.

Coming into today, shares of the biopharmaceutical company had gained 5.56% in the past month. In that same time, the Medical sector gained 3.28%, while the S&P 500 gained 4.69%.

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. On that day, BMY is projected to report earnings of $1.36 per share, which would represent year-over-year growth of 11.48%. Our most recent consensus estimate is calling for quarterly revenue of $10.57 billion, up 32.98% from the year-ago period.

It is also important to note the recent changes to analyst estimates for BMY. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. BMY is holding a Zacks Rank of #4 (Sell) right now.

Looking at its valuation, BMY is holding a Forward P/E ratio of 9.02. This represents a discount compared to its industry's average Forward P/E of 27.43.

Investors should also note that BMY has a PEG ratio of 0.99 right now. 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 1.25 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 209, putting it in the bottom 19% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

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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