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Bristol-Myers Squibb (NYSE:BMY – Free Report) – Research analysts at William Blair upped their Q4 2024 earnings estimates for Bristol-Myers Squibb in a report released on Tuesday, January 21st. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $1.47 per share for the quarter, up from their prior estimate 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.
Bristol-Myers Squibb (NYSE:BMY – Get Free Report) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 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 analysts’ expectations of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $2.00 EPS.
Several other equities analysts also recently weighed in on the stock. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Daiwa America upgraded Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Finally, BMO Capital Markets raised their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $56.27.
Check Out Our Latest Stock Report on Bristol-Myers Squibb
Bristol-Myers Squibb Stock Performance
NYSE BMY opened at $57.11 on Wednesday. The stock’s 50 day simple moving average is $57.42 and its 200-day simple moving average is $52.33. 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 cap of $115.83 billion, a PE ratio of -15.91, a price-to-earnings-growth ratio of 1.98 and a beta of 0.45. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $61.08.
Institutional Trading of Bristol-Myers Squibb
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Trust Co. N.A. grew its holdings in Bristol-Myers Squibb by 39.0% in the 3rd quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company’s stock valued at $5,355,000 after buying an additional 29,044 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter valued at $488,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Bristol-Myers Squibb by 3.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after buying an additional 206 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in Bristol-Myers Squibb by 34.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company’s stock worth $2,305,000 after acquiring an additional 11,387 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in Bristol-Myers Squibb by 81.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 76,775 shares of the biopharmaceutical company’s stock valued at $3,972,000 after purchasing an additional 34,418 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.
Insider Activity at Bristol-Myers Squibb
In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the transaction, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 3.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were 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. 0.09% of the stock is owned by insiders.
Bristol-Myers Squibb Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Friday, January 3rd. This is a boost 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.
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