Bristol-Myers Squibb Company (BMY) saw a big move in the last trading session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for BMY, as the stock is now up nearly 0.5% in the past one-month time frame.
Although this slump was obviously disappointing, the company has seen 6 positive revisions and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for BMY. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
BMY currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Healthcare sector may consider a better-ranked stock like Gilead Sciences Inc. (GILD), carrying a Zacks Rank #1 (Strong Buy).