What is Leerink Partnrs' Estimate for BMY FY2028 Earnings?

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Stock analysts at Leerink Partnrs dropped their FY2028 earnings per share estimates for Bristol-Myers Squibb in a research note issued on Tuesday, April 22nd. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings of $5.75 per share for the year, down from their prior estimate of $6.39. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $6.74 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb's FY2029 earnings at $6.30 EPS.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. The business had revenue of $11.20 billion during the quarter, compared to analysts' expectations of $10.77 billion. During the same period last year, the firm posted ($4.40) earnings per share. The business's revenue was down 5.6% on a year-over-year basis.

Other equities research analysts also recently issued reports about the company. Citigroup raised their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Piper Sandler initiated coverage on shares of Bristol-Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Jefferies Financial Group cut their price objective on shares of Bristol-Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company upped their price target on Bristol-Myers Squibb from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. Finally, William Blair reissued a "market perform" rating on shares of Bristol-Myers Squibb in a report on Friday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.00.

Bristol-Myers Squibb Stock Up 1.1 %

BMY stock traded up $0.55 during mid-day trading on Friday, hitting $48.45. The stock had a trading volume of 18,572,631 shares, compared to its average volume of 12,950,880. The company has a fifty day moving average of $56.37 and a 200 day moving average of $56.53. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The stock has a market capitalization of $98.58 billion, a price-to-earnings ratio of -10.96, a PEG ratio of 2.07 and a beta of 0.41. The company has a current ratio of 1.25, a quick ratio of 1.15 and a debt-to-equity ratio of 2.90.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several large investors have recently made changes to their positions in the company. Truist Financial Corp lifted its position in Bristol-Myers Squibb by 3.9% during the fourth quarter. Truist Financial Corp now owns 1,597,150 shares of the biopharmaceutical company's stock valued at $90,335,000 after purchasing an additional 60,365 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at about $488,000. Inspire Trust Co. N.A. increased its stake in 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 acquiring an additional 29,044 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Bristol-Myers Squibb by 14.0% during the 4th quarter. Versant Capital Management Inc now owns 78,690 shares of the biopharmaceutical company's stock valued at $4,451,000 after purchasing an additional 9,692 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in Bristol-Myers Squibb in the fourth quarter worth $474,000. 76.41% of the stock is owned by institutional investors.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat purchased 1,823 shares of the company's stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $54.84 per share, for a total transaction of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at $3,506,030.88. This trade represents a 2.94 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 4th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, April 4th. This represents a $2.48 dividend on an annualized basis and a yield of 5.12%. Bristol-Myers Squibb's dividend payout ratio (DPR) is 92.88%.

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.