Leerink Partnrs Has Positive Outlook for BMY Q4 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Leerink Partnrs boosted their Q4 2024 earnings estimates for shares of Bristol-Myers Squibb in a research report issued to clients and investors on Sunday, January 12th. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will post earnings of $1.42 per share for the quarter, up from their previous forecast of $1.41. Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.93 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.15 EPS, FY2027 earnings at $6.64 EPS, FY2028 earnings at $6.53 EPS and FY2029 earnings at $7.28 EPS.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.00 earnings per share.

A number of other research analysts have also recently issued reports on BMY. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. UBS Group raised their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Sanford C. Bernstein initiated coverage on Bristol-Myers Squibb in a research report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, Wolfe Research initiated coverage on Bristol-Myers Squibb in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

Bristol-Myers Squibb stock opened at $56.39 on Wednesday. The business has a 50 day simple moving average of $57.45 and a 200 day simple moving average of $51.79. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The company has a market capitalization of $114.37 billion, a PE ratio of -15.71, a price-to-earnings-growth ratio of 1.95 and a beta of 0.45. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.08.

Bristol-Myers Squibb Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a yield of 4.40%. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

Insider Activity

In related news, EVP Samit Hirawat purchased 1,830 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This trade represents a 3.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was 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 owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Institutional investors and hedge funds have recently modified their holdings of the stock. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management grew its holdings in shares of Bristol-Myers Squibb by 61.3% in the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the period. Kennebec Savings Bank bought a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 1,168.1% during the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 549 shares in the last quarter. 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.