Leerink Partnrs Issues Pessimistic Forecast for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Leerink Partnrs cut their Q4 2024 earnings per share estimates for shares of Bristol-Myers Squibb in a research note issued 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 prior estimate of $1.51. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.72 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2027 earnings at $6.71 EPS.

Several other analysts also recently weighed in on the company. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. UBS Group upped their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Up 2.1 %

Shares of BMY opened at $55.45 on Tuesday. The firm has a 50 day simple moving average of $51.41 and a two-hundred day simple moving average of $46.61. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $56.20. The company has a market cap of $112.42 billion, a P/E ratio of -15.45, a P/E/G ratio of 15.49 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.40%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.26 billion. During the same period in the prior year, the company posted $2.00 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -66.85%.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norden Group LLC grew its holdings in Bristol-Myers Squibb by 30.2% during the first quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after buying an additional 3,213 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Bristol-Myers Squibb by 13.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 26,607 shares of the biopharmaceutical company’s stock worth $1,443,000 after acquiring an additional 3,080 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Bristol-Myers Squibb during the first quarter valued at about $240,000. Callan Capital LLC purchased a new position in Bristol-Myers Squibb during the first quarter worth about $310,000. Finally, Avidian Wealth Solutions LLC grew its position in Bristol-Myers Squibb by 5.9% in the 1st quarter. Avidian Wealth Solutions LLC now owns 6,369 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.