Will Bristol Myers Squibb Stock Rebound To Its 2022 Highs Of $80? [Forbes]
Bristol-Myers Squibb Company (BMY)
Last bristol-myers squibb company earnings: 2/6 07:05 am
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Source: Forbes
(NYSE: BMY) currently trades at $42 per share, 47% below its pre-inflation shock high of $80 seen in June 2022. In contrast, its peer – – is up 56% over this period. BMY stock was trading at $77 in early June 2022, just before the Fed started increasing rates, and is now 45% below that level, compared to 45% gains for the S&P 500 during this period. This underperformance of Bristol Myers Squibb stock can be attributed to declining revenues amid increased biosimilar competition and its slashed guidance for 2024 owing to the impact of acquisitions. Returning to the pre-inflation shock level of $80 means that BMY stock will have to gain 90% from here, and we don't think this will materialize anytime soon. Our detailed analysis of captures trends in the company's stock during the turbulent market conditions seen over 2022. It compares these trends to the stock's performance during the 2008 recession. The decrease in BMY stock has been far from consistent. Returns for the stock were 1%
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BMY
Earnings
- 4/25/24 - Miss
BMY
Sec Filings
- 6/25/24 - Form 11-K
- 6/25/24 - Form 11-K
- 6/25/24 - Form 11-K
- BMY's page on the SEC website