Bristol-Myers Squibb Company [NYSE: BMY] has been on a bull run for almost 2 months now. The company bottomed out in August and since then it has been pushing higher. We last covered this stock on August 5, 2019, in an article titled, “Active stocks: Bristol-Myers Squibbs (BMY) sees some insider buying“. In this article we noted that insiders were buying the stock and it was a bullish signal. At the time, the stock was trading at $45.26 and the insider had bought 11k shares at $44.72. Furthermore, it appeared the chart had formed a bottom and was reversing. Since then, BMY has gone from $45.26 to hitting a high of $51 yesterday for a total gain potential of 12.6%. See the daily chart below.
At the moment, investors are looking forward to this company’s earnings on 31st October. Analysts expect that this company will announce an EPS of around $1.06. Revenue consensus is at about $5.3 billion or an increase of 2.36% as compared to the same quarter last year. Analyst consensus for the full year is an EPS of roughly $4.29. Positive expectations about this stock could see it keep gaining as it approaches its earnings release date.
Looking at its price action, BMY is gaining momentum in pre-market trading. At the time of writing, it was up by 0.55% to trade at $50.80. Looking at this stock in relation to the overall performance of the medical sector, we feel BMY has been a top performer. In the last one month, it has gained by 5.66%. This is higher than the medical sector which has gained by 1.37% in the same period. BMY has also beat the S&P 500 in the past month, as the S&P only has gained by 3.23%.
About Bristol-Myers Squibb Company
BMY is a biopharma company that develops, and distributes biopharmaceutical products all across the world. It offers drugs for Oncology, Cardiovascular diseases, and immuno-science. Some of its products include Opdivo, and Eliquis. The company has its headquarters in New York.