Zacks Research Weighs in on Bristol-Myers Squibb’s Q3 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at Zacks Research cut their Q3 2024 EPS estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst E. Bagri now forecasts that the biopharmaceutical company will earn $1.67 per share for the quarter, down from their prior forecast of $1.73. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.63 per share. Zacks Research also issued estimates for Bristol-Myers Squibb’s Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.74 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at $1.55 EPS, FY2025 earnings at $6.67 EPS, Q1 2026 earnings at $1.50 EPS and FY2026 earnings at $6.21 EPS.

A number of other equities research analysts also recently weighed in on BMY. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. William Blair restated a “market perform” rating on shares of Bristol-Myers Squibb in a research report on Monday, April 1st. Bank of America cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Societe Generale cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, StockNews.com cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $48.86 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. Bristol-Myers Squibb has a fifty-two week low of $47.58 and a fifty-two week high of $70.93. The firm has a 50-day simple moving average of $51.22 and a 200 day simple moving average of $51.31. The company has a market cap of $99.03 billion, a PE ratio of 12.66, a P/E/G ratio of 1.48 and a beta of 0.39.

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

Bristol-Myers Squibb Announces Dividend

The business also recently declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio is currently 62.18%.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keene & Associates Inc. lifted its stake in Bristol-Myers Squibb by 23.4% during the first quarter. Keene & Associates Inc. now owns 59,064 shares of the biopharmaceutical company’s stock valued at $3,203,000 after purchasing an additional 11,219 shares during the last quarter. Verity & Verity LLC acquired a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $5,998,000. V Square Quantitative Management LLC lifted its stake in Bristol-Myers Squibb by 24.1% during the first quarter. V Square Quantitative Management LLC now owns 42,245 shares of the biopharmaceutical company’s stock valued at $2,291,000 after purchasing an additional 8,211 shares during the last quarter. Oxler Private Wealth LLC lifted its stake in Bristol-Myers Squibb by 285.5% during the first quarter. Oxler Private Wealth LLC now owns 30,552 shares of the biopharmaceutical company’s stock valued at $1,657,000 after purchasing an additional 22,627 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Bristol-Myers Squibb by 12.8% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,910 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 216 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

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.