Leerink Partnrs Has Bullish Outlook for BMY FY2024 Earnings

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Monday, November 4th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings per share of $0.89 for the year, up from their prior forecast of $0.70. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $0.83 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb's FY2025 earnings at $7.29 EPS, FY2026 earnings at $6.33 EPS and FY2028 earnings at $6.32 EPS.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company's revenue was up 8.4% on a year-over-year basis.

A number of other analysts have also weighed in on BMY. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a "market perform" rating and a $56.00 price objective for the company. Citigroup cut shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. UBS Group increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an "underweight" rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has a consensus rating of "Hold" and an average target price of $53.00.

Bristol-Myers Squibb Stock Down 1.2 %

Shares of BMY stock traded down $0.67 during mid-day trading on Wednesday, hitting $55.28. The stock had a trading volume of 11,770,492 shares, compared to its average volume of 14,430,507. The firm has a market capitalization of $112.12 billion, a P/E ratio of -15.40, a price-to-earnings-growth ratio of 13.14 and a beta of 0.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.80. The firm's 50-day moving average is $51.69 and its two-hundred day moving average is $46.72.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Seizert Capital Partners LLC raised its position in Bristol-Myers Squibb by 18.1% during the third quarter. Seizert Capital Partners LLC now owns 717,254 shares of the biopharmaceutical company's stock valued at $37,111,000 after acquiring an additional 109,849 shares in the last quarter. Kinsale Capital Group Inc. grew its stake in shares of Bristol-Myers Squibb by 23.5% during the 3rd quarter. Kinsale Capital Group Inc. now owns 95,597 shares of the biopharmaceutical company's stock worth $4,946,000 after purchasing an additional 18,163 shares during the period. Natixis Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 34.9% during the 3rd quarter. Natixis Advisors LLC now owns 446,364 shares of the biopharmaceutical company's stock valued at $23,095,000 after purchasing an additional 115,361 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Bristol-Myers Squibb by 93.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 301,844 shares of the biopharmaceutical company's stock valued at $15,617,000 after purchasing an additional 145,551 shares during the period. Finally, Coastline Trust Co boosted its holdings in Bristol-Myers Squibb by 23.6% during the third quarter. Coastline Trust Co now owns 9,592 shares of the biopharmaceutical company's stock worth $496,000 after buying an additional 1,830 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the firm's stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Samit Hirawat acquired 1,830 shares of the business's stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the acquisition, the executive vice president now owns 62,109 shares of the company's stock, valued at approximately $3,395,499.03. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the sale, the senior vice president now directly owns 11,760 shares of the company's stock, valued at $654,091.20. This trade represents a 0.00 % 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently -66.85%.

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.