William Blair Has Negative Outlook for BMY Q4 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Research analysts at William Blair cut their Q4 2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report released on Thursday, October 31st. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $1.47 per share for the quarter, down from their previous estimate of $1.56. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.72 per share. William Blair also issued estimates for Bristol-Myers Squibb’s Q1 2025 earnings at $1.73 EPS, Q2 2025 earnings at $1.91 EPS, Q3 2025 earnings at $2.03 EPS, FY2025 earnings at $7.46 EPS, FY2026 earnings at $7.15 EPS, FY2027 earnings at $7.42 EPS and FY2028 earnings at $6.59 EPS.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.40% and a negative net margin of 15.30%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 EPS.

BMY has been the subject of several other reports. Sanford C. Bernstein assumed coverage on 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. BMO Capital Markets increased their target price on Bristol-Myers Squibb from $53.00 to $57.00 and gave the company a “market perform” rating in a report on Friday. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, UBS Group increased their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.00.

Bristol-Myers Squibb Price Performance

Shares of Bristol-Myers Squibb stock opened at $54.32 on Monday. The firm has a market capitalization of $110.13 billion, a PE ratio of -15.13, a price-to-earnings-growth ratio of 15.49 and a beta of 0.44. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $56.20. The business’s 50-day moving average price is $51.26 and its 200-day moving average price is $46.56. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is presently -66.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management increased its position 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 buying an additional 187 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Bristol-Myers Squibb by 3.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 206 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in Bristol-Myers Squibb by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 10,288 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 215 shares in the last quarter. Paragon Capital Management LLC increased its position in Bristol-Myers Squibb by 1.1% during the 1st quarter. Paragon Capital Management LLC now owns 20,500 shares of the biopharmaceutical company’s stock valued at $1,112,000 after buying an additional 222 shares in the last quarter. Finally, Stiles Financial Services Inc increased its position in Bristol-Myers Squibb by 0.9% during the 3rd quarter. Stiles Financial Services Inc now owns 24,747 shares of the biopharmaceutical company’s stock valued at $1,280,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.