Leerink Partnrs Issues Optimistic Forecast for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at Leerink Partnrs raised their FY2028 earnings per share estimates for shares of Bristol-Myers Squibb in a research report issued on Tuesday, October 22nd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will post earnings of $6.40 per share for the year, up from their prior estimate of $6.24. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.77 per share.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 EPS.

A number of other research analysts also recently issued reports on BMY. TD Cowen boosted their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. BMO Capital Markets restated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Jefferies Financial Group upped their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $53.20.

Bristol-Myers Squibb Trading Up 0.6 %

Shares of NYSE:BMY opened at $53.06 on Wednesday. The stock has a 50 day moving average of $50.63 and a 200 day moving average of $46.39. The company has a market cap of $107.56 billion, a PE ratio of -17.12, a price-to-earnings-growth ratio of 13.75 and a beta of 0.46. 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 has a 12-month low of $39.35 and a 12-month high of $56.77.

Institutional Trading of Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new stake in shares of Bristol-Myers Squibb in the first quarter worth approximately $5,161,000. Sunbelt Securities Inc. increased its stake in Bristol-Myers Squibb by 19.1% in the first quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock worth $547,000 after purchasing an additional 1,614 shares during the period. RMR Wealth Builders lifted its position in shares of Bristol-Myers Squibb by 9.8% during the first quarter. RMR Wealth Builders now owns 5,805 shares of the biopharmaceutical company’s stock worth $315,000 after purchasing an additional 517 shares during the last quarter. Brookstone Capital Management boosted its stake in shares of Bristol-Myers Squibb by 36.4% during the first quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock valued at $8,137,000 after purchasing an additional 40,018 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Bristol-Myers Squibb in the first quarter worth about $83,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.52%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.