Defensive stocks are stealing the spotlight again following Fed Chair Jerome Powell's recent comments. In his address at the Economic Club of Washington D.C.
Bristol-Myers Squibb Company faces challenges with patent expirations and debt from acquisitions, but has strong long-term shareholder return potential. Q1 2024 results show revenue growth and promising regulatory approvals, supporting long-term portfolio growth. The KarXT acquisition and guidance demonstrate commitment to diversification, managing business, and driving future shareholder returns.
Bristol Myers (BMY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The latest trading day saw Bristol Myers Squibb (BMY) settling at $42.39, representing a -1.76% change from its previous close.
Bristol-Myers Squibb reported first quarter results and had to lower its guidance for fiscal 2024 due to the IPRD acquisition for $12.9 billion. The company will also lose patent protection for Revlimid, Opdivo and Eliquis, which is a huge part of their revenue. But the company is trying to shift its portfolio from its legacy products to its growth products.
Bristol Myers Squibb is down big this year, but with a growth strategy in place, it can make for an appealing contrarian investment. AT&T's business is growing, and its strong free cash flow could pave the way for a rising dividend.
Bristol-Myers Squibb continues to underperform the wider market with bullish support yet to materialize, despite the double beat FQ1'24 earnings call, cost-saving strategies, and numerous regulatory wins. With BMY stock seemingly behaving like a falling knife, our previous Buy rating has not panned out well indeed. However, we are reiterating our optimism surrounding BMY's dividend investment thesis and growing in-house/acquired pipelines, with the second half of the decade likely to be promising.
According to NextEarningsDate.com, the Bristol-Myers Squibb next earnings date is projected to be 7/26 before market open, with earnings estimates of $1.53/share on $10.56 Billion of revenue.
Don't Let The Market Fool You: Bristol-Myers Is Not A Value Trap
Stock market investing is not a zero-sum game, offering long-term potential for growth and income when it comes to highly undervalued stocks. Bristol Myers Squibb stock is undervalued, with strong revenue growth, profitability, and a promising drug pipeline. BMY presents a high conviction buy opportunity for value and income investors, with potential for future growth and acquisitions.
24/7 Insights Traders are betting that the first federal funds rate cut will come in September.
Bristol Myers faces multiple challenges, but if it can overcome them, its stock could prove to be a steal of a deal. Cisco's sales haven't gotten a boost yet from AI, but it may only be a matter of time before that changes.