Research Analysts Issue Forecasts for Bristol-Myers Squibb’s FY2023 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMYFree Report) – Investment analysts at William Blair cut their FY2023 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Thursday, January 25th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $7.27 for the year, down from their prior forecast of $7.51. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $7.43 per share. William Blair also issued estimates for Bristol-Myers Squibb’s Q4 2023 earnings at $1.46 EPS, Q1 2024 earnings at $1.96 EPS, Q2 2024 earnings at $1.81 EPS, Q3 2024 earnings at $1.69 EPS, Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $7.06 EPS, FY2025 earnings at $7.41 EPS, FY2026 earnings at $7.37 EPS and FY2027 earnings at $7.89 EPS.

BMY has been the topic of a number of other research reports. TheStreet lowered Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. UBS Group restated a “neutral” rating and set a $60.00 price target (down previously from $70.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 20th. BMO Capital Markets lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research note on Friday, October 27th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 27th. Finally, Morgan Stanley cut their target price on Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating on the stock in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $62.41.

View Our Latest Report on BMY

Bristol-Myers Squibb Stock Down 1.0 %

Shares of BMY opened at $49.38 on Monday. The company has a market cap of $100.48 billion, a PE ratio of 12.53, a P/E/G ratio of 1.39 and a beta of 0.35. The business has a fifty day moving average of $50.60 and a 200 day moving average of $55.48. Bristol-Myers Squibb has a 52-week low of $48.25 and a 52-week high of $75.18. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11.

Institutional Trading of Bristol-Myers Squibb

Several large investors have recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in Bristol-Myers Squibb during the fourth quarter worth $26,000. Northwest Capital Management Inc acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $26,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $31,000. Coppell Advisory Solutions LLC acquired a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $28,000. Finally, Live Oak Investment Partners acquired a new position in shares of Bristol-Myers Squibb in the 4th quarter valued at $33,000. 74.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bristol-Myers Squibb

In related news, Director Theodore R. Samuels II purchased 8,500 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the transaction, the director now owns 35,500 shares in the company, valued at $1,768,255. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Christopher S. Boerner purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average cost of $49.78 per share, for a total transaction of $99,560.00. Following the completion of the transaction, the chief executive officer now owns 82,672 shares of the company’s stock, valued at $4,115,412.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore R. Samuels II purchased 8,500 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $49.81 per share, with a total value of $423,385.00. Following the completion of the transaction, the director now directly owns 35,500 shares of the company’s stock, valued at approximately $1,768,255. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 13,571 shares of company stock worth $672,994. 0.08% of the stock is owned by corporate insiders.

Bristol-Myers Squibb declared that its Board of Directors has approved a stock buyback plan on Thursday, December 7th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Bristol-Myers Squibb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 5th will be given a dividend of $0.60 per share. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, January 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 60.91%.

About Bristol-Myers Squibb

(Get Free Report)

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

Further Reading

Earnings History and Estimates for Bristol-Myers Squibb (NYSE:BMY)

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.