Leerink Partnrs Issues Pessimistic Outlook for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Analysts at Leerink Partnrs reduced their Q4 2024 earnings estimates for 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 earn $1.41 per share for the quarter, down from their prior estimate of $1.51. 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 FY2027 earnings at $6.71 EPS.

A number of other equities analysts have also recently weighed in on BMY. 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. Barclays raised their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. UBS Group upped 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. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.00.

Bristol-Myers Squibb Stock Up 0.9 %

Bristol-Myers Squibb stock opened at $55.96 on Tuesday. The stock’s 50 day moving average price is $51.56 and its 200 day moving average price is $46.66. The company has a market cap of $113.50 billion, a PE ratio of -15.59, 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 1-year low of $39.35 and a 1-year high of $56.28.

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

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.29%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -66.85%.

Insiders Place Their Bets

In other news, EVP Samit Hirawat acquired 1,830 shares of the stock in a transaction that occurred on 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 acquisition, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Bristol-Myers Squibb news, EVP Samit Hirawat purchased 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The shares were bought at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the transaction, the executive vice president now owns 62,109 shares in the company, valued at $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 hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $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 company insiders.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently added to or reduced their stakes in the business. Norden Group LLC lifted its stake in shares of Bristol-Myers Squibb by 30.2% in the 1st quarter. Norden Group LLC now owns 13,846 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 3,213 shares during the period. Rehmann Capital Advisory Group lifted its stake in Bristol-Myers Squibb by 13.1% during the first quarter. Rehmann Capital Advisory Group now owns 26,607 shares of the biopharmaceutical company’s stock valued at $1,443,000 after purchasing an additional 3,080 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Bristol-Myers Squibb during the first quarter worth approximately $240,000. Callan Capital LLC acquired a new stake in shares of Bristol-Myers Squibb during the first quarter worth $310,000. Finally, Avidian Wealth Solutions LLC boosted its position in shares of Bristol-Myers Squibb by 5.9% in the 1st quarter. Avidian Wealth Solutions LLC now owns 6,369 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 355 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.