BMY Stock: From $66.03 To $62.89 Explanation

By Amit Chowdhry ● April 29, 2021
  • The stock price of Bristol-Myers Squibb Co (NYSE: BMY) fell from $66.03 to $62.89 today. This is why it happened.

The stock price of Bristol-Myers Squibb Co (NYSE: BMY) fell from $66.03 to $62.89 today (down 4.76%). Investors responded negatively to Bristol-Myers Squibb posting weaker than expected first-quarter earnings today.

Bristol-Myers Squibb also repeated its full-year profit forecast in the first quarter announcement. The non-GAAP earnings for the 3 months ended in March were $1.74 per share. And group revenues increased 2.5% to $11.07 billion. Bristol-Myers Squibb’s blood clot treatment Eliquis saw sales increase 9% to $2.9 billion and the company’s bladder cancer treatment Opdivo’s sales fell 3% to $1.72 billion.

For 2021, Bristol-Myers had repeated its forecast of non-GAAP earnings in the range of $7.35 to $7.55 per share, which is higher than the previous estimates of $7.15 to $7.45.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.