Bristol Myers Squibb (BMY) closed the most recent trading day at $60.18, moving +0.6% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.78%. Elsewhere, the Dow lost 0.99%, while the tech-heavy Nasdaq lost 2.61%.

Coming into today, shares of the biopharmaceutical company had gained 0.18% in the past month. In that same time, the Medical sector gained 0.26%, while the S&P 500 lost 3.48%.

Market participants will be closely following the financial results of Bristol Myers Squibb in its upcoming release. The company's earnings per share (EPS) are projected to be $1.55, reflecting a 135.23% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $10.69 billion, reflecting a 9.94% fall from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.75 per share and revenue of $45.59 billion, indicating changes of +486.96% and -5.6%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Bristol Myers Squibb should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.96% lower. At present, Bristol Myers Squibb boasts a Zacks Rank of #3 (Hold).

Investors should also note Bristol Myers Squibb's current valuation metrics, including its Forward P/E ratio of 8.87. This indicates a discount in contrast to its industry's Forward P/E of 19.4.

We can additionally observe that BMY currently boasts a PEG ratio of 2.22. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.57.

The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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