William Blair Issues Positive Outlook for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at William Blair boosted their Q4 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a report issued on Tuesday, January 21st. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $1.47 for the quarter, up from their previous forecast of $1.46. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.92 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.37 EPS.

BMY has been the topic of several other reports. Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $73.00 in a research report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Leerink Partnrs upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup lifted their target price on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $57.01 on Wednesday. The firm has a fifty day simple moving average of $57.46 and a two-hundred day simple moving average of $52.20. The firm has a market cap of $115.63 billion, a PE ratio of -15.88, a P/E/G ratio of 1.98 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 EPS.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in Bristol-Myers Squibb by 8.4% during the second quarter. ProShare Advisors LLC now owns 338,422 shares of the biopharmaceutical company’s stock valued at $14,055,000 after purchasing an additional 26,267 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 14.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,695 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 703 shares during the period. Public Sector Pension Investment Board lifted its position in Bristol-Myers Squibb by 71.2% in the second quarter. Public Sector Pension Investment Board now owns 77,950 shares of the biopharmaceutical company’s stock worth $3,237,000 after buying an additional 32,407 shares during the last quarter. Magnetar Financial LLC purchased a new position in Bristol-Myers Squibb during the second quarter worth $636,000. Finally, Xponance Inc. increased its position in Bristol-Myers Squibb by 8.8% during the second quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock valued at $13,181,000 after acquiring an additional 25,543 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Insider Activity

In other news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction that occurred 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 directly owns 11,760 shares in the company, valued at approximately $654,091.20. The trade was a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 4.35%. The ex-dividend date is Friday, January 3rd. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is -69.08%.

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.