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Bristol Myers Squibb (BMY) closed the latest trading day at $40.75, indicating a -0.9% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 1.95%.

Shares of the biopharmaceutical company witnessed a loss of 3.04% over the previous month, trailing the performance of the Medical sector with its loss of 1.09% and the S&P 500's gain of 5.11%.

The upcoming earnings release of Bristol Myers Squibb will be of great interest to investors. The company's earnings report is expected on July 26, 2024. On that day, Bristol Myers Squibb is projected to report earnings of $1.66 per share, which would represent a year-over-year decline of 5.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.45 billion, up 1.96% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.58 per share and a revenue of $46.09 billion, representing changes of -92.28% and +2.41%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bristol Myers Squibb. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.04% decrease. As of now, Bristol Myers Squibb holds a Zacks Rank of #3 (Hold).

Looking at its valuation, Bristol Myers Squibb is holding a Forward P/E ratio of 70.34. This signifies a premium in comparison to the average Forward P/E of 23.72 for its industry.

It is also worth noting that BMY currently has a PEG ratio of 14.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BMY's industry had an average PEG ratio of 2.16 as of yesterday's close.

The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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