Leerink Partnrs Issues Pessimistic Estimate for BMY Earnings

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Leerink Partnrs cut their Q4 2024 earnings estimates for Bristol-Myers Squibb in a research report issued on Monday, November 4th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings per share of $1.41 for the quarter, down from their previous forecast of $1.51. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.83 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s FY2027 earnings at $6.71 EPS.

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

BMY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. UBS Group increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $55.00 in a research note on Friday, October 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $53.00.

Bristol-Myers Squibb Stock Down 1.2 %

Shares of BMY opened at $55.28 on Tuesday. The stock has a 50 day moving average price of $51.69 and a 200 day moving average price of $46.72. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market capitalization of $112.12 billion, a price-to-earnings ratio of -15.40, a PEG ratio of 13.14 and a beta of 0.44. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $56.80.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Atlanta Consulting Group Advisors LLC purchased a new position in Bristol-Myers Squibb in the 3rd quarter valued at approximately $1,203,000. Seizert Capital Partners LLC raised its stake in shares of Bristol-Myers Squibb by 18.1% in the third quarter. Seizert Capital Partners LLC now owns 717,254 shares of the biopharmaceutical company’s stock valued at $37,111,000 after acquiring an additional 109,849 shares in the last quarter. Kinsale Capital Group Inc. boosted its holdings in Bristol-Myers Squibb by 23.5% in the third quarter. Kinsale Capital Group Inc. now owns 95,597 shares of the biopharmaceutical company’s stock valued at $4,946,000 after purchasing an additional 18,163 shares during the period. Natixis Advisors LLC grew its stake in Bristol-Myers Squibb by 34.9% during the 3rd quarter. Natixis Advisors LLC now owns 446,364 shares of the biopharmaceutical company’s stock worth $23,095,000 after purchasing an additional 115,361 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its holdings in Bristol-Myers Squibb by 93.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 301,844 shares of the biopharmaceutical company’s stock worth $15,617,000 after purchasing an additional 145,551 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Phil M. Holzer sold 700 shares of the business’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 sale, the senior vice president now owns 11,760 shares in the company, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

Bristol-Myers Squibb Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -66.85%.

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.