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Bristol Myers (BMY) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Bristol Myers Squibb lowered its earnings outlook earlier this year to account for recent acquisitions. One of Bristol Myers Squibb's top-selling drugs, Revlimid, has already lost patent-protected market exclusivity.
Bristol-Myers Squibb Company stock crossed $50/share after strong earnings. The company saw 18% YoY revenue growth in 2Q 2024. Bristol-Myers has a strong pipeline with potential for future growth, focusing on debt reduction and shareholder returns.
Bristol-Myers Squibb Co BMY on Friday reported upbeat second-quarter results.
Bristol-Myers Squibb NYSE: BMY is in the healthcare sector and is the 10th largest pharmaceutical firm in the world by market capitalization. The company released Q2 2024 financial results on July 26, 2024.
During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Bristol Myers Squibb's Q2 2024 revenue increased 9% year-over-year, reaching $12.2 billion. Newer drugs like Reblozyl and Opdualag demonstrated strong revenue growth in Q2, 2024. Despite facing patent cliffs, BMS's up-and-coming assets like Reblozyl, Breyanzi, and KarXT for schizophrenia offer promising future revenue potential.
Dividend yields have historically been a strong predictor of stock returns over long periods. Current market conditions could be ripe for a rally in high-yield equities.
Bristol-Myers Squibb had a strong Q2 earnings report, backed by strong momentum in both legacy and new products. The management has boosted its guidance for the remainder of 2024, enhancing confidence in the safety of the stock's stellar 5% dividend yield. Seasonality trends suggest that the stock usually performs much better in the second half of a year.