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. I 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 I 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, I 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.