FY2024 Earnings Estimate for BMY Issued By Cantor Fitzgerald

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Stock analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of Bristol-Myers Squibb in a research report issued to clients and investors on Tuesday, February 4th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will earn $0.93 per share for the year, up from their previous estimate of $0.92. Cantor Fitzgerald has a "Neutral" rating and a $55.00 price target on the stock. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $0.92 per share. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb's FY2025 earnings at $6.65 EPS.

Several other equities analysts also recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They set a "market perform" rating and a $56.00 target price for the company. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 13th. BMO Capital Markets boosted their target price on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Leerink Partnrs raised shares of Bristol-Myers Squibb from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $56.93.

Bristol-Myers Squibb Stock Performance

Bristol-Myers Squibb stock traded up $0.54 during midday trading on Wednesday, hitting $59.66. 12,577,760 shares of the company's stock were exchanged, compared to its average volume of 10,126,895. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The stock has a market cap of $121.01 billion, a price-to-earnings ratio of -16.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm's 50 day simple moving average is $57.64 and its 200 day simple moving average is $53.59.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. purchased a new stake in Bristol-Myers Squibb during the 4th quarter valued at approximately $488,000. Inspire Trust Co. N.A. boosted its holdings in shares of Bristol-Myers Squibb by 39.0% during the third quarter. Inspire Trust Co. N.A. now owns 103,500 shares of the biopharmaceutical company's stock worth $5,355,000 after purchasing an additional 29,044 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in 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 valued at $289,000 after acquiring an additional 206 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Bristol-Myers Squibb by 34.3% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 44,546 shares of the biopharmaceutical company's stock valued at $2,305,000 after acquiring an additional 11,387 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its position in Bristol-Myers Squibb by 81.3% in the third 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 during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were given a dividend of $0.62 per share. This is a boost from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.16%. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb's dividend payout ratio (DPR) is currently -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.