Wall Street analysts predict that Bristol-Myers Squibb (NYSE:BMY) will post sales of $11.31 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Bristol-Myers Squibb’s earnings, with the highest sales estimate coming in at $11.64 billion and the lowest estimate coming in at $10.78 billion. Bristol-Myers Squibb posted sales of $10.13 billion during the same quarter last year, which suggests a positive year over year growth rate of 11.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 5th.
According to Zacks, analysts expect that Bristol-Myers Squibb will report full year sales of $46.00 billion for the current year, with estimates ranging from $45.21 billion to $46.51 billion. For the next year, analysts expect that the firm will post sales of $47.75 billion, with estimates ranging from $47.05 billion to $48.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Bristol-Myers Squibb.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Wednesday, April 28th. The biopharmaceutical company reported $1.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.08). The company had revenue of $11.07 billion during the quarter, compared to the consensus estimate of $11.19 billion. Bristol-Myers Squibb had a negative net margin of 0.11% and a positive return on equity of 27.48%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS.
A number of brokerages recently issued reports on BMY. Truist Financial upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, April 13th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, April 6th. Morgan Stanley lowered shares of Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $70.00 to $62.00 in a research report on Friday. Truist Securities upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $74.00 in a research report on Monday, April 19th. Finally, TheStreet upgraded shares of Bristol-Myers Squibb from a “c” rating to a “b” rating in a research report on Thursday, April 29th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Bristol-Myers Squibb presently has a consensus rating of “Buy” and an average target price of $73.81.
BMY traded up $0.47 on Thursday, reaching $63.95. The company had a trading volume of 10,559,876 shares, compared to its average volume of 12,425,299. The company has a fifty day moving average of $63.60 and a 200-day moving average of $63.04. The company has a market capitalization of $142.79 billion, a P/E ratio of -577.04, a PEG ratio of 1.00 and a beta of 0.67. The company has a current ratio of 1.67, a quick ratio of 1.58 and a debt-to-equity ratio of 0.82. Bristol-Myers Squibb has a one year low of $54.07 and a one year high of $67.16.
The business also recently declared a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Thursday, April 1st were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Wednesday, March 31st. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 41.79%.
In other news, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $62.20, for a total value of $1,555,000.00. Following the completion of the sale, the chief executive officer now directly owns 528,980 shares of the company’s stock, valued at $32,902,556. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC raised its position in Bristol-Myers Squibb by 4.6% during the first quarter. Kohmann Bosshard Financial Services LLC now owns 3,660 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 161 shares in the last quarter. Bingham Osborn & Scarborough LLC raised its position in Bristol-Myers Squibb by 6.1% during the first quarter. Bingham Osborn & Scarborough LLC now owns 6,761 shares of the biopharmaceutical company’s stock valued at $427,000 after acquiring an additional 387 shares in the last quarter. Morris Retirement Advisors LLC raised its position in Bristol-Myers Squibb by 12.7% during the first quarter. Morris Retirement Advisors LLC now owns 7,965 shares of the biopharmaceutical company’s stock valued at $503,000 after acquiring an additional 898 shares in the last quarter. Scott & Selber Inc. bought a new position in Bristol-Myers Squibb during the first quarter valued at approximately $1,114,000. Finally, Sargent Investment Group LLC raised its position in Bristol-Myers Squibb by 23.5% during the first quarter. Sargent Investment Group LLC now owns 10,597 shares of the biopharmaceutical company’s stock valued at $669,000 after acquiring an additional 2,017 shares in the last quarter. 72.41% of the stock is owned by institutional investors and hedge funds.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. The company offers products in hematology, oncology, cardiovascular, and immunology therapeutic classes. Its products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Opdivo for anti-cancer indications; Eliquis, an oral inhibitor indicated for the reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; and Orencia for adult patients with active RA and psoriatic arthritis, as well as reducing signs and symptoms in pediatric patients with active polyarticular juvenile idiopathic arthritis.
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