Leerink Partnrs Has Pessimistic Outlook of BMY Q4 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Leerink Partnrs lowered their Q4 2024 earnings estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Monday, November 4th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will earn $1.41 per share for the quarter, down from their previous forecast of $1.51. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.83 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2027 earnings at $6.71 EPS.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The business’s revenue was up 8.4% compared to the same quarter last year.

Several other analysts have also recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. TD Cowen boosted their price objective on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. BMO Capital Markets lifted their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, UBS Group boosted their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Performance

Shares of NYSE BMY opened at $55.96 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $56.28. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The business has a fifty day simple moving average of $51.56 and a 200 day simple moving average of $46.66. The firm has a market capitalization of $113.50 billion, a price-to-earnings ratio of -15.59, a PEG ratio of 13.14 and a beta of 0.44.

Bristol-Myers Squibb Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.29%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at approximately $654,091.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Institutional investors have recently modified their holdings of the company. Haverford Trust Co raised its position in shares of Bristol-Myers Squibb by 0.6% in the 3rd quarter. Haverford Trust Co now owns 67,229 shares of the biopharmaceutical company’s stock worth $3,478,000 after acquiring an additional 382 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 25.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 21,738 shares of the biopharmaceutical company’s stock worth $1,125,000 after buying an additional 4,421 shares in the last quarter. Commonwealth Retirement Investments LLC increased its stake in shares of Bristol-Myers Squibb by 8.4% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 45,487 shares of the biopharmaceutical company’s stock valued at $2,354,000 after acquiring an additional 3,541 shares in the last quarter. American Assets Inc. acquired a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $621,000. Finally, Savvy Advisors Inc. bought a new position in Bristol-Myers Squibb during the third quarter worth $250,000. 76.41% of the stock is owned by 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.