FY2024 Earnings Forecast for BMY Issued By Leerink Partnrs

Bristol-Myers Squibb (NYSE:BMY) – Leerink Partnrs raised their FY2024 earnings per share estimates for Bristol-Myers Squibb in a note issued to investors on Sunday, January 12th. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings per share of $0.90 for the year, up from their prior estimate of $0.89. Leerink Partnrs currently 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 FY2026 earnings at $6.26 EPS.

A number of other research analysts also recently issued reports on the company. UBS Group boosted their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Sanford C. Bernstein began coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price target on the stock. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley upped their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.27.

Bristol-Myers Squibb Stock Up 0.4 %

Shares of NYSE:BMY opened at $55.96 on Tuesday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The company has a market cap of $113.50 billion, a PE ratio of -15.59, a P/E/G ratio of 15.20 and a beta of 0.45. 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 stock’s 50-day moving average is $57.44 and its 200 day moving average is $51.76.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Bristol-Myers Squibb in the third quarter worth about $25,000. Hollencrest Capital Management increased its holdings in Bristol-Myers Squibb by 61.3% during the third 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 purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $28,000. Darwin Wealth Management LLC purchased a new position in Bristol-Myers Squibb during the third quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC increased 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 valued at $31,000 after buying an additional 549 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Insider Activity

In related news, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. This trade represents a 3.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of the company’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 sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade 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.

Bristol-Myers Squibb Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.43%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently -69.08%.

About Bristol-Myers Squibb

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.