Bristol-Myers Squibb (NYSE:BMY) to Post FY2024 Earnings of $6.27 Per Share, William Blair Forecasts

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at William Blair decreased their FY2024 earnings per share estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $6.27 for the year, down from their prior estimate of $6.39. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.20 EPS.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company increased their price target on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.18.

Bristol-Myers Squibb Stock Up 1.3 %

Shares of BMY opened at $48.93 on Thursday. Bristol-Myers Squibb has a 52 week low of $47.58 and a 52 week high of $70.93. The stock has a market capitalization of $99.17 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 1.44 and a beta of 0.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a fifty day moving average of $51.23 and a 200-day moving average of $51.51.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the company earned $1.82 EPS. Bristol-Myers Squibb’s revenue was up .6% compared to the same quarter last year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. Bristol-Myers Squibb’s dividend payout ratio is presently 62.18%.

Institutional Trading of Bristol-Myers Squibb

Large investors have recently made changes to their positions in the company. Riversedge Advisors LLC boosted its stake in Bristol-Myers Squibb by 3.2% during the 3rd quarter. Riversedge Advisors LLC now owns 5,691 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 178 shares during the last quarter. Vicus Capital boosted its stake in Bristol-Myers Squibb by 3.9% during the 3rd quarter. Vicus Capital now owns 4,824 shares of the biopharmaceutical company’s stock valued at $280,000 after purchasing an additional 179 shares during the last quarter. Cassia Capital Partners LLC boosted its stake in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Cassia Capital Partners LLC now owns 7,931 shares of the biopharmaceutical company’s stock valued at $460,000 after purchasing an additional 182 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Bristol-Myers Squibb by 2.3% during the 3rd quarter. Lindbrook Capital LLC now owns 8,060 shares of the biopharmaceutical company’s stock valued at $468,000 after purchasing an additional 182 shares during the last quarter. Finally, Front Row Advisors LLC boosted its stake in Bristol-Myers Squibb by 17.5% during the 4th quarter. Front Row Advisors LLC now owns 1,222 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 182 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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.