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Bristol-Myers Squibb Company BMY

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Bristol Posts Steady Q2 Despite COVID-19 Headwinds, While the Pipeline Continues to Progress

Damien Conover, CFA Sector Director

Analyst Note

| Damien Conover, CFA |

Bristol reported second-quarter results that exceeded both our and S&P CapIQ consensus on the bottom line, but we don’t expect any change to our fair value estimate based on the minor outperformance. We continue to view Bristol as undervalued, with the market not likely appreciating the firm’s strong pipeline that also supports the firm’s wide moat rating.

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Company Profile

Business Description

Bristol-Myers Squibb discovers, develops, and markets drugs for various indications, such as cardiovascular, oncology, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is leading in drug development. Unlike some of its more diversified peers, Bristol has exited several nonpharmaceutical businesses to focus on branded specialty drugs, which tend to support strong pricing power.

Contact
430 East 29th Street, 14th Floor
New York, NY, 10016
T +1 212 546-4000
Sector Healthcare
Industry Drug Manufacturers - General
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 30,000

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