What is Leerink Partnrs’ Forecast for BMY FY2024 Earnings?

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Leerink Partnrs upped their FY2024 EPS estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Sunday, January 12th. Leerink Partnrs analyst D. Risinger now anticipates that the biopharmaceutical company will earn $0.90 per share for the year, up from their previous estimate of $0.89. Leerink Partnrs 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 FY2026 earnings at $6.26 EPS.

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

Several other equities research analysts also recently weighed in on the company. Sanford C. Bernstein started coverage on Bristol-Myers Squibb in a report on Thursday, October 17th. They set a “market perform” rating and a $56.00 price objective on the stock. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $70.00 in a report on Monday, December 16th. BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.27.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $55.73 on Tuesday. 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 fifty-two week low of $39.35 and a fifty-two week high of $61.08. The company has a market cap of $113.03 billion, a price-to-earnings ratio of -15.52, a PEG ratio of 15.20 and a beta of 0.45. The stock has a fifty day moving average price of $57.44 and a 200-day moving average price of $51.76.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of BMY. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter worth about $25,000. Hollencrest Capital Management lifted its position in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 187 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb during the 3rd quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in Bristol-Myers Squibb during the third quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 1,168.1% in the third quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 549 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bristol-Myers Squibb

In related news, SVP Phil M. Holzer sold 700 shares of the firm’s 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samit Hirawat purchased 1,830 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the completion of the purchase, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Increases Dividend

The business 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 4.45%. The ex-dividend date is Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is -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.