Leerink Partnrs Analysts Reduce Earnings Estimates for BMY

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Leerink Partnrs decreased their Q3 2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a research report issued on Tuesday, October 22nd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will earn $1.51 per share for the quarter, down from their prior estimate of $1.66. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.77 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.70 EPS, FY2025 earnings at $7.06 EPS, FY2026 earnings at $6.30 EPS and FY2027 earnings at $6.75 EPS.

BMY has been the topic of several other research reports. TD Cowen raised their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Price Performance

BMY stock opened at $52.92 on Thursday. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $56.77. The stock’s fifty day simple moving average is $50.63 and its 200-day simple moving average is $46.39. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $107.27 billion, a price-to-earnings ratio of -17.07, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lincoln National Corp raised its position in Bristol-Myers Squibb by 7.7% in the first quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares during the period. Chapin Davis Inc. increased its position in shares of Bristol-Myers Squibb by 22.6% during the first quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock worth $1,223,000 after acquiring an additional 4,159 shares during the last quarter. Accel Wealth Management increased its position in shares of Bristol-Myers Squibb by 19.0% during the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 788 shares during the last quarter. Brookstone Capital Management increased its position in shares of Bristol-Myers Squibb by 36.4% during the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after acquiring an additional 25,543 shares during the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.