Bristol-Myers Squibb Co (BMY) released its first quarter results on Friday, April 30, 2021. The company reported net earnings of $0.89 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 359 percent compared to the same period a year ago.
Bristol-Myers Squibb Company was founded in 1887 and is headquartered in New York, New York. Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes.
Bristol-Myers Squibb's revenue increased 38 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 77.4% for the first quarter compared to the same period in the previous year, and operating margins increased to 19.84% over the same period. Net earnings for past trailing twelve months were -$6219.0 million, down 752% from the prior year.
Moving on to the balance sheet, Bristol-Myers Squibb’s cash levels dropped 31% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 5.55% this past year. The current ratio for Bristol-Myers Squibb now stands at 1.56. The company decreased shares outstanding by 1.32%.
Shares of BMY are currently trading around $62.42. In terms of valuation, the stock is trading at a price to book ratio of 3.76.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Sunday, May 2, 2021.