Leerink Partnrs Has Positive Estimate for BMY Q4 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at Leerink Partnrs increased their Q4 2024 EPS estimates for shares of Bristol-Myers Squibb in a research note issued on Sunday, January 12th. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will post earnings per share of $1.42 for the quarter, up from their prior forecast of $1.41. Leerink Partnrs currently 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 FY2025 earnings at $7.15 EPS, FY2027 earnings at $6.64 EPS, FY2028 earnings at $6.53 EPS and FY2029 earnings at $7.28 EPS.

BMY has been the topic of a number of other research reports. BMO Capital Markets lifted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Morgan Stanley lifted their price target on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $73.00 in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $55.96 on Wednesday. The firm has a market cap of $113.50 billion, a PE ratio of -15.59, a PEG ratio of 15.20 and a beta of 0.45. The firm’s 50 day moving average price is $57.44 and its 200 day moving average price is $51.76. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.08.

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

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently modified their holdings of BMY. Meridian Management Co. boosted its position in shares of Bristol-Myers Squibb by 0.6% during the third quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock valued at $1,463,000 after buying an additional 182 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 189 shares during the last quarter. Mayflower Financial Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 2.3% during the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 192 shares during the last quarter. Finally, Lakewood Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 0.7% during the fourth quarter. Lakewood Asset Management LLC now owns 26,867 shares of the biopharmaceutical company’s stock valued at $1,520,000 after buying an additional 195 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction dated Friday, November 1st. The stock was bought at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. The trade was a 3.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares of the company’s stock, valued at approximately $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. Company insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.43%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, January 3rd. Bristol-Myers Squibb’s payout ratio is currently -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.