Bristol-Myers Squibb (NYSE:BMY) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Bristol-Myers Squibb (NYSE:BMYGet Rating) announced its quarterly earnings results on Friday. The biopharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.05, MarketWatch Earnings reports. The firm had revenue of $11.65 billion for the quarter, compared to analyst estimates of $11.34 billion. Bristol-Myers Squibb had a net margin of 15.08% and a return on equity of 45.60%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 EPS. Bristol-Myers Squibb updated its FY22 guidance to $7.44-7.74 EPS.

NYSE:BMY traded down $1.93 during mid-day trading on Friday, reaching $75.27. 26,446,511 shares of the company were exchanged, compared to its average volume of 13,736,354. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $78.17. The company has a fifty day moving average of $72.64 and a 200 day moving average of $65.20. The company has a quick ratio of 1.43, a current ratio of 1.52 and a debt-to-equity ratio of 1.10. The stock has a market cap of $164.07 billion, a PE ratio of 26.69, a PEG ratio of 1.60 and a beta of 0.55.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Friday, April 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, March 31st. Bristol-Myers Squibb’s dividend payout ratio is currently 76.60%.

Several brokerages have issued reports on BMY. Wells Fargo & Company boosted their price target on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, March 2nd. Morgan Stanley lowered their target price on shares of Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating on the stock in a report on Wednesday, April 6th. BMO Capital Markets upped their target price on shares of Bristol-Myers Squibb from $74.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, March 30th. Finally, StockNews.com assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Buy” and a consensus price target of $67.75.

In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 25,000 shares of the company’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,788,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rupert Vessey sold 74,559 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $69.25, for a total transaction of $5,163,210.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,668 shares of company stock worth $11,459,888. Corporate insiders own 0.09% of the company’s stock.

Several large investors have recently made changes to their positions in BMY. Thrivent Financial for Lutherans increased its stake in Bristol-Myers Squibb by 3.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 153,908 shares of the biopharmaceutical company’s stock worth $9,774,000 after purchasing an additional 5,667 shares in the last quarter. NewEdge Advisors LLC increased its stake in Bristol-Myers Squibb by 107.7% during the 4th quarter. NewEdge Advisors LLC now owns 107,892 shares of the biopharmaceutical company’s stock worth $6,727,000 after purchasing an additional 55,948 shares in the last quarter. Toroso Investments LLC increased its stake in Bristol-Myers Squibb by 46.0% during the 4th quarter. Toroso Investments LLC now owns 61,177 shares of the biopharmaceutical company’s stock worth $3,814,000 after purchasing an additional 19,270 shares in the last quarter. Wasatch Advisors Inc. increased its stake in Bristol-Myers Squibb by 7.8% during the 4th quarter. Wasatch Advisors Inc. now owns 55,375 shares of the biopharmaceutical company’s stock worth $3,453,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in Bristol-Myers Squibb by 20.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 28,066 shares of the biopharmaceutical company’s stock worth $1,750,000 after purchasing an additional 4,802 shares in the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

About Bristol-Myers Squibb (Get Rating)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; 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; and Orencia for adult patients with active RA and psoriatic arthritis.

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

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