FY2024 Earnings Estimate for BMY Issued By Cantor Fitzgerald

Bristol-Myers Squibb (NYSE:BMY) – Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of Bristol-Myers Squibb in a research note issued on Tuesday, February 4th. Cantor Fitzgerald analyst O. Brayer now anticipates that the biopharmaceutical company will post earnings of $0.93 per share for the year, up from their prior forecast of $0.92. Cantor Fitzgerald currently has a “Neutral” rating and a $55.00 target price on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.92 per share. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $6.65 EPS.

Other equities analysts have also issued research reports about the stock. Wolfe Research assumed coverage on shares of Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. BMO Capital Markets increased their price objective on 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. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price objective for the company. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.93.

Bristol-Myers Squibb Stock Up 0.9 %

Shares of NYSE BMY opened at $59.66 on Wednesday. The business has a 50-day moving average of $57.64 and a 200-day moving average of $53.59. The firm has a market capitalization of $121.01 billion, a price-to-earnings ratio of -16.62, a PEG ratio of 2.10 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.10.

Institutional Trading of Bristol-Myers Squibb

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after buying an additional 4,275,787 shares during the period. Jennison Associates LLC lifted its holdings in Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after acquiring an additional 3,425,789 shares during the period. Janus Henderson Group PLC boosted its position in Bristol-Myers Squibb by 695.1% in the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after purchasing an additional 3,107,672 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Bristol-Myers Squibb by 18.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock valued at $986,931,000 after acquiring an additional 3,002,418 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Bristol-Myers Squibb by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock worth $3,157,713,000 after purchasing an additional 1,968,729 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 4.16%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, January 3rd. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -69.08%.

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.