Leerink Partnrs Analysts Increase Earnings Estimates for BMY

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Investment analysts at Leerink Partnrs upped their FY2024 EPS estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Sunday, January 12th. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will earn $0.90 per share for the year, up from their previous estimate of $0.89. Leerink Partnrs has a "Strong-Buy" rating on the stock. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $0.93 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb's FY2026 earnings at $6.26 EPS.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last announced its 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. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company had revenue of $11.89 billion during the quarter, compared to analysts' expectations of $11.26 billion. During the same quarter in the previous year, the business posted $2.00 earnings per share. Bristol-Myers Squibb's quarterly revenue was up 8.4% on a year-over-year basis.

BMY has been the subject of a number of other reports. Leerink Partners upgraded Bristol-Myers Squibb from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $55.00 to $73.00 in a report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Jefferies Financial Group upgraded shares of Bristol-Myers Squibb from a "hold" rating to a "buy" rating and boosted their price target for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 13th. Finally, Barclays lifted their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY traded up $0.37 during trading on Tuesday, hitting $55.73. 7,408,820 shares of the company were exchanged, compared to its average volume of 9,372,866. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $113.03 billion, a P/E ratio of -15.52, a price-to-earnings-growth ratio of 15.20 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. The business's 50 day moving average is $57.44 and its 200-day moving average is $51.66.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently bought and sold shares of the business. Reston Wealth Management LLC purchased a new stake in shares of Bristol-Myers Squibb in the third quarter worth $25,000. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new position in Bristol-Myers Squibb in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of Bristol-Myers Squibb during the third quarter valued at $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 549 shares during the period. Institutional investors own 76.41% of the company's stock.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased 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. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the business'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 transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Bristol-Myers Squibb Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Bristol-Myers Squibb's previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a yield of 4.45%. Bristol-Myers Squibb's payout ratio is presently -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.