What Bristol Myers Squibb’s Q1 Results Say About Its Stock

SourceForbes
SectorFinancial Markets
CountryGulf

Share to Linkedin The stock price of Bristol Myers Squibb BMY has seen a 5% drop over the last five trading days, after the company announced its Q1 results, which were slightly below the street estimates. Bristol’s Q1 revenue of $11. 1 billion was largely in-line with the consensus estimates, while its adjusted EPS of $1.

74 per share was short of the $1. 82 consensus estimate. The results were impacted by Covid-19 to some extent and we believe that the company will likely see strong sales growth over the coming quarters, led by market share gains for Eliquis, and recent approvals boding well for Opdivo and Yervoy. That said, the investors weren’t happy with Bristol’s Q1 performance and the stock plunged 5% in a single trading session, post the earnings announcement. Now that half of the U. S. population has received at least one dose of vaccine, the economy is expected to open up gradually, signaling improvement for Bristol...read more...