Leerink Partnrs Analysts Reduce Earnings Estimates for Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Leerink Partnrs decreased their Q2 2024 earnings estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Thursday, April 25th. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will post earnings per share of $1.76 for the quarter, down from their previous forecast of $1.80. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.58 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q3 2024 earnings at $1.69 EPS, Q4 2024 earnings at $1.57 EPS and FY2027 earnings at $6.23 EPS.

BMY has been the subject of several other reports. BMO Capital Markets cut their price objective on shares of Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, April 26th. StockNews.com downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday, April 15th. William Blair reissued a “market perform” rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and an average target price of $60.00.

Bristol-Myers Squibb Stock Down 1.5 %

BMY opened at $43.96 on Monday. The company has a 50 day moving average of $50.81 and a 200 day moving average of $50.93. The company has a market cap of $89.11 billion, a PE ratio of -14.18, a price-to-earnings-growth ratio of 15.47 and a beta of 0.39. Bristol-Myers Squibb has a 12 month low of $43.93 and a 12 month high of $69.10. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 2.99.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($4.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.53) by $0.13. Bristol-Myers Squibb had a negative net margin of 13.50% and a positive return on equity of 8.83%. The company had revenue of $11.87 billion during the quarter, compared to analyst estimates of $11.45 billion. During the same quarter last year, the business posted $2.05 EPS. Bristol-Myers Squibb’s quarterly revenue was up 4.7% compared to the same quarter last year.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors have recently bought and sold shares of the business. McClarren Financial Advisors Inc. lifted its position in Bristol-Myers Squibb by 532.7% during the fourth quarter. McClarren Financial Advisors Inc. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $96,000 after purchasing an additional 1,582 shares during the last quarter. Institute for Wealth Management LLC. lifted its holdings in shares of Bristol-Myers Squibb by 1.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 30,056 shares of the biopharmaceutical company’s stock worth $1,542,000 after acquiring an additional 296 shares during the last quarter. Herold Advisors Inc. lifted its holdings in shares of Bristol-Myers Squibb by 3.2% in the 3rd quarter. Herold Advisors Inc. now owns 33,668 shares of the biopharmaceutical company’s stock worth $1,954,000 after acquiring an additional 1,051 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Bristol-Myers Squibb by 9.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 139,811 shares of the biopharmaceutical company’s stock worth $8,115,000 after acquiring an additional 12,121 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Bristol-Myers Squibb by 14.8% in the 3rd quarter. Metis Global Partners LLC now owns 101,772 shares of the biopharmaceutical company’s stock worth $5,907,000 after acquiring an additional 13,122 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.46%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

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.