Leerink Partnrs Issues Optimistic Estimate for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Stock analysts at Leerink Partnrs upped their FY2028 earnings per share estimates for shares of Bristol-Myers Squibb in a report issued on Tuesday, October 22nd. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will earn $6.40 per share for the year, up from their previous forecast 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 results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.43. The company had revenue of $12.20 billion for 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 for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS.

A number of other equities research analysts have also recently commented on BMY. BMO Capital Markets restated a “market perform” rating and set a $48.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. TD Cowen raised their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 7th. 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. Cantor Fitzgerald reaffirmed 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, UBS Group raised their price target on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.20.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $52.92 on Wednesday. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $56.77. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16. The company has a market capitalization of $107.27 billion, a P/E ratio of -17.07, a P/E/G ratio of 13.75 and a beta of 0.46. The business’s 50-day moving average is $50.63 and its two-hundred day moving average is $46.39.

Institutional Trading of Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the company. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at approximately $34,000. LGT Financial Advisors LLC raised its position in shares of Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter valued at approximately $47,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

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.