Investment Thesis - Bristol-Myers Squibb (BMY) reported strong Q2 earnings, leading to an 11% stock rally, with significant revenue and EPS surprises [1] - The company exhibits exceptional profitability, enabling growth through acquisitions, innovation, and shareholder returns, with a forward dividend yield of 5% [1] - Valuation analysis indicates that BMY remains undervalued despite recent price increases, leading to a "Strong Buy" recommendation [1] Company Information - BMY is a leading biopharmaceutical company focused on developing medicines for severe diseases, with flagship products Eliquis and Opdivo accounting for approximately 47% of total sales in FY 2023 [2] Financial Performance - BMY's revenue for FY 2023 was $45,006 million, showing a decline from $46,159 million in FY 2022, but still reflecting a strong financial history with a 12.3% CAGR over the last decade [5][6] - The company reported a gross profit margin of 76.6% and a free cash flow margin of 29.5% in FY 2023, indicating strong profitability metrics [6][8] Q2 Earnings Review - In Q2 2024, BMY's revenue grew by 8.9% year-over-year, with flagship products Eliquis and Opdivo showing robust growth [10] - Management raised full-year guidance based on strong Q2 performance, indicating confidence in achieving upper-end revenue growth targets [11][12] Market Position - BMY commands a leading global market share in oncology drugs, with significant investments in R&D expected to support future growth [4][12] - The oncology drug market is projected to grow at an 11.3% CAGR over the next decade, which aligns with BMY's strategic focus [12] Valuation - BMY's stock is considered undervalued, with a fair value estimated at $70, representing a 39% upside potential [17] - The company has a high valuation grade of "A+" from Seeking Alpha, indicating that its ratios are significantly lower than sector medians [13][14] Dividend Policy - BMY maintains a strong dividend policy, with a forward dividend yield of around 5%, supported by a healthy free cash flow margin [8][17]

The pharmaceutical company is faring far better than most investors were anticipating at this point.Bristol Myers Squibb (BMY 9.94%) shareholders are certainly finishing the trading week on a high note. The drugmaker's stock is up 9.6% as of 1:14 p.m. ET, according to data from S&P Global Market Intelligence, in response to a surprisingly strong second-quarter report and subsequently raised full-year guidance.Bristol Myers Squibb is firing on all cylindersGive credit to Bristol Myers Squibb's newer drugs li ...

Bristol-Myers Squibb Company (NYSE:BMY) Q2 2024 Earnings Conference Call July 26, 2024 8:00 AM ET Company Participants Tim Power - Vice President, Head of Investor Relations Chris Boerner - Board Chair and Chief Executive Officer David Elkins - Executive Vice President and Chief Financial Officer Adam Lenkowsky - Executive Vice President, Chief Commercialization Officer Samit Hirawat - Executive Vice President, Chief Medical Officer, Global Drug Development Conference Call Participants Chris Schott - JPMorg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number 001-01136 ___________________________ BRISTOL-MYERS SQUIBB COMPANY (Exact ...

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 100 points on Friday.The Dow traded up 1.60% to 40,574.53 while the NASDAQ rose 0.74% to 17,309.62. The S&P 500 also rose, gaining, 0.99% to 5,452.49.Check This Out: Jim Cramer Is ‘Mystified’ By Five Below, Predicts CrowdStrike ‘Is Going To Bottom Here’Leading and Lagging SectorsIndustrials shares jumped by 1.7% on Wednesday.In trading on Wednesday, energy shares fell by 0.3%.Top HeadlineBristol Myers Squibb & Co BMY  p ...

It’s been an eventful week in the markets. And this morning, we have arguably the most substantial numbers of all: Personal Consumption Expenditures (PCE) for June, the Fed’s preferred measure of inflation. Both headline figures came in-line with estimates: +0.1% month over month and +2.5% year over year, up +10 basis points (bps) on the former and -10 bps on the latter. Pre-market futures are jumping this morning, though this may have to do with favorable market conditions after the sell-off mid-week.Impor ...

Bristol-Myers Squibb Company (BMY) reported an adjusted earnings per share (EPS) of $2.07, which beat the Zacks Consensus Estimate of $1.64.  In the year-ago quarter, BMY posted an adjusted EPS of $1.75.Total revenues of $12.2 billion surpassed the Zacks Consensus Estimate of $11.5 billion. The top line also increased 9% from the year-ago period’s level, primarily driven by strong growth portfolio performance and an increase in Eliquis sales.BMY’s shares are trading up following the results.The company’s sh ...

Key TakeawaysBristol-Myers Squibb's second-quarter results beat revenue and adjusted EPS expectations.The company raised its full-year adjusted EPS guidance and now projects adjusted revenue to land in the upper end of its previously issued range.Revenue growth was driven by sales of its blood thinner Eliquis and cancer drug Opdivo. Bristol-Myers Squibb (BMY) shares climbed Friday after the company beat expectations with its second-quarter results and raised its full-year guidance. The pharmaceutical giant ...

For the quarter ended June 2024, Bristol Myers Squibb (BMY) reported revenue of $12.2 billion, up 8.7% over the same period last year. EPS came in at $2.07, compared to $1.75 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $11.52 billion, representing a surprise of +5.93%. The company delivered an EPS surprise of +26.22%, with the consensus EPS estimate being $1.64.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Bristol Myers Squibb (BMY) came out with quarterly earnings of $2.07 per share, beating the Zacks Consensus Estimate of $1.64 per share. This compares to earnings of $1.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.22%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $4.55 per share when it actually produced a loss of $4.40, delivering a surprise of 3.30%.Over the last four quart ...