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Bristol Myers Squibb (BMY) ended the recent trading session at $48.51, demonstrating a +0.48% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.

The the stock of biopharmaceutical company has fallen by 7.76% in the past month, lagging the Medical sector's loss of 6.57% and the S&P 500's loss of 0.85%.

Analysts and investors alike will be keeping a close eye on the performance of Bristol Myers Squibb in its upcoming earnings disclosure. The company's earnings report is set to go public on April 25, 2024. The company is forecasted to report an EPS of -$4.90, showcasing a 339.02% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $11.43 billion, up 0.83% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.29 per share and a revenue of $45.99 billion, indicating changes of -82.82% and +2.2%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for Bristol Myers Squibb. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 18.1% fall in the Zacks Consensus EPS estimate. At present, Bristol Myers Squibb boasts a Zacks Rank of #3 (Hold).

From a valuation perspective, Bristol Myers Squibb is currently exchanging hands at a Forward P/E ratio of 37.35. This signifies a premium in comparison to the average Forward P/E of 22.88 for its industry.

One should further note that BMY currently holds a PEG ratio of 7.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.89 based on yesterday's closing prices.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.