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- 1 BMY stock price showed a bullish trend last weekend.
- 2 On July 27, 2023, Thursday, Bristol-Myers Squibb Co. released its Q2 earnings.
Bristol-Myers (BMY) stock price showed a bullish trend on July 28, 2023, Friday’s trading session. On Thursday, Bristol-Myers Squibb Co. released its Q2 earnings report and the 1-day trading volume reached over 22 Million with the bears’ dominance.
However, on Friday’s trading session, the trading volume dropped nearly 11 Million while experiencing the bulls’ dominance.
The other health technology stocks such as Reata Pharmaceuticals Inc. (NASDAQ: RETA), Johnson & Johnson (NYSE: JNJ), and Tivic Health Systems Inc. (NASDAQ: TIVC) also showed over 11 Million trading volume on July 28th, 2023, Friday.
BMY Stock Price Analysis
Bristol-Myers (BMY) stock price was following a bearish trend for the last 1-year and noted over 18% price decline. The year-to-date (YTD) price showed a 14.42% price decline which dropped nearly 5% in the last 1 month.
As per the following price analysis, it is clear that BMY stock showed increased dominance of bears for a long period of time.
As Bristol-Myers Squibb Co. recently released its Q2 2023 earnings and revenue report, BMY share price rose 1.12% on Friday’s trading session. With the small trading activity by active bulls in the market, BMY stock price surpassed its trading price of $61.00, as per the data sourced from TradingView, a web-based social network for traders.
As the above chart shows, before the release of Q2 earnings, BMY stock price was trading near its 20-day moving average. As the bears have shown their activeness, BMY share price slid below the trading price of $61.00.
However, near the weekend, the active bulls supported BMY share price with a bullish trend and the BMY stock closed at $61.41 on July 28th, Friday’s trading session.
The 1-year price target set by the analysts is at $73.50, up by over 19% from the recent closing price of the stock. The minimum price estimate of analysts is at $56.00 while the maximum estimate is at $92.00. In the past 3-months, analysts have given a “buy” rating to Bristol-Myers Squibb Company.
Q2 2023 Earnings and Revenue Report Highlights
According to the Q2 2023 report of Bristol-Myers Squibb Co. (NYSE: BMY), an American multinational pharmaceutical company, its net income is $2.07 Billion. BMY’s price-to-sales ratio is 2.83 and the company has an Enterprise Value to EBITDA ratio of 8.48.
BMY dividends are paid quarterly while the last dividend per share was $0.57 and as of today, the Dividend Yield (TTM)% is 3.62%. The company’s earnings per share (EPS) is $1.75 whereas the estimation was $1.98. The revenue for the same period amounts to $11.23 Billion despite the estimated figure of $11.81 Billion.
For the next quarter, the estimated EPS is $1.84, and revenue is expected to reach $11.08 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
