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The Bristol-Myers Squibb Company (NYSE: BMY) Stock Price: Is It Overvalued?

Bristol-Myers Squibb Company (NYSE:BMY) shares, rose in value on Friday, May 13, with the stock price down by -0.34% to the previous day’s close as strong demand from buyers drove the stock to $76.04.

Actively observing the price movement in the recent trading, the stock is buoying the session at $76.30, falling within a range of $74.86 and $76.34. The value of beta (5-year monthly) is 0.59 whereas the PE ratio is 27.10 over 12-month period. Referring to stock’s 52-week performance, its high was $78.17, and the low was $53.22. On the whole, BMY has fluctuated by -0.33% over the past month.

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With the market capitalization of Bristol-Myers Squibb Company currently standing at about $161.56 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 27, 2022 – May 02, 2022. The company’s Forward Dividend Ratio is 2.16, with its dividend yield at 2.83%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.82, which is expected to increase to $2.23 for fiscal year $7.49 and then to about $7.84 by fiscal year 2022. Data indicates that the EPS growth is expected to be 16.30% in 2022, while the next year’s EPS growth is forecast to be 4.70%.

Analysts have estimated the company’s revenue for the quarter at $12.12 billion, with a low estimate of $11.88 billion and a high estimate of $12.57 billion. According to the average forecast, sales growth in current quarter could jump up 9.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $46.51 billion, representing an increase of 9.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BMY’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 6.11, with the price of BMY currently trading nearly -0.31% and 3.02% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.84, while the 7-day volatility ratio is showing 2.01% which for the 30-day chart, stands at 1.98%. Furthermore, Bristol-Myers Squibb Company (BMY)’s beta value is 0.48, and its average true range (ATR) is 1.60.

A comparison of Bristol-Myers Squibb Company (BMY) with its peers suggests the former has fared considerably weaker in the market. BMY showed an intraday change of -0.34% in today’s session so far, and over the past year, it grew by 17.31%%. In comparison, Johnson & Johnson (JNJ) has moved lower at -0.06% today and is up 4.65% over the past 12 months. On the other hand, the price of Pfizer Inc. (PFE) has fallen -0.75% today. The stock, however, is off 25.66% from where it was a year ago. Additionally, there is a gain of 1.59% for Abbott Laboratories (ABT) in recent trading while the stock has seen an overall depriciation of -8.07%% over the past year. The PE ratio stands at 27.10 for Bristol-Myers Squibb Company, compared to 23.96 for Johnson & Johnson, and 11.36 for Pfizer Inc. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.56%.

Data on historical trading for Bristol-Myers Squibb Company (NYSE:BMY) indicates that the trading volumes over the past 10 days have averaged 17.34 million and over the past 3 months, they’ve averaged 15.64 million. According to company’s latest data on outstanding shares, there are 2.15 billion shares outstanding.

Nearly 0.10% of Bristol-Myers Squibb Company’s shares belong to company insiders and institutional investors own 77.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 26.12 million shares as on Jan 30, 2022, resulting in a short ratio of 2.03. According to the data, the short interest in Bristol-Myers Squibb Company (BMY) stood at 1.18% of shares outstanding as of Jan 30, 2022; the number of short shares registered in Dec 30, 2021 reached 20.34 million. The stock has risen by 22.37% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BMY stock heading into the next quarter.

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