$BMY Bristol Myers trade level The stock is on a bullish trajectory towards resistance at $64.60 but is lacking in volume and needs a little rotation to take place.
Still trading at a very reasonable 17 P/E ratio.
Yield attractive at 3%.
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
BMY trade ideas
$BMY beats but needs a pullback for entry. Bristol-Myers Squibb (NYSE:BMY) Q3 results:
Revenues: $6,007M (+5.6%); product sales: $5,768M (+6.2%).
Key product sales: Eliquis: $1,928M (+22.3%); Opdivo: $1,817M (+1.3%); Orencia: $767M (+13.6%); Sprycel: $558M (+13.6%); Yervoy: $353M (-7.6%).
Net income: $1,366M (-28.6%); EPS: $0.83 (-28.4%); non-GAAP EPS: $1.17 (+7.3%).
2019 guidance: EPS: $3.46 - 3.56 from $3.73 - 3.83; non-GAAP EPS: $4.25 - 4.35 from $4.20 - 4.30.
Source seeking Alpha
Possible entry level $54-$57 with $63 as target and strong resistance.
P/E ratio 14.94 - undervalued.
Short interest high at 9.16%.
Company profile
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
Nice Long For Earnings""For Bristol-Myers, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.38%.
On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination indicates that Bristol-Myers will most likely beat the consensus EPS estimate.....For the last reported quarter, it was expected that Bristol-Myers would post earnings of $1.06 per share when it actually produced earnings of $1.18, delivering a surprise of +11.32%.Over the last four quarters, the company has beaten consensus EPS estimates four times." (Zacks)
Inverted Hammer Show Top for BMY?BMY gap-up today opening near $60 level, but closed at $54.23 creating somewhat an inverted hammer candle. Need to be cautious here. Stochastic still on the overbought territory. Watch the Stochastic closely for any sign dipping below 80 level. A closed below or near $53 we may consider to go square.
$BMY Bullish break imminent in Bristol-MyersTrading at a very low 13.77 P/E ratio.
Short interest is quiet high at 9.15%, which could ignite a rally.
Bristol-Myers Squibb resumed with Buy rating and $60 (16% upside) price target at BofAML.
Company profile
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.
BMY offers short term gains.We are of the opinion that the recent resistance level @ $54 looks on the near term horizon, momentum has been strong, but volume is on the decline.
Bristol-Myers Squibb Co. engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It includes chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.