Q1 2024 EPS Estimates for Bristol-Myers Squibb Reduced by Analyst (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMYFree Report) – Equities researchers at Leerink Partnrs cut their Q1 2024 earnings per share estimates for shares of Bristol-Myers Squibb in a report issued on Monday, February 5th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will earn $1.55 per share for the quarter, down from their prior estimate of $1.60. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $6.93 per share. Leerink Partnrs also issued estimates for Bristol-Myers Squibb’s Q2 2024 earnings at $1.88 EPS, Q3 2024 earnings at $1.74 EPS, FY2024 earnings at $6.91 EPS, FY2025 earnings at $7.32 EPS, FY2026 earnings at $6.77 EPS and FY2027 earnings at $6.88 EPS.

Other equities analysts have also issued reports about the company. HSBC upgraded Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and reduced their price objective for the company from $55.00 to $53.00 in a research report on Friday, October 27th. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Morgan Stanley reduced their price objective on Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating on the stock in a research report on Friday, October 27th. Finally, William Blair lowered Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. One research 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 stock has an average rating of “Hold” and an average target price of $61.17.

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Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $48.71 on Wednesday. The business’s 50-day moving average price is $50.53 and its two-hundred day moving average price is $54.89. Bristol-Myers Squibb has a twelve month low of $47.58 and a twelve month high of $73.84. The stock has a market cap of $99.11 billion, a P/E ratio of 12.62, a PEG ratio of 1.42 and a beta of 0.38. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 1.11.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same quarter last year, the firm posted $1.82 EPS. The company’s revenue was up .6% compared to the same quarter last year.

Bristol-Myers Squibb announced that its board has approved a share buyback plan on Thursday, December 7th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 5th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, January 4th. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.57. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Insider Activity

In other news, Director Theodore R. Samuels II bought 8,500 shares of the stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the purchase, the director now directly owns 35,500 shares in the company, valued at approximately $1,768,255. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Theodore R. Samuels II acquired 8,500 shares of the stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the completion of the purchase, the director now owns 35,500 shares of the company’s stock, valued at $1,768,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher S. Boerner acquired 2,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were bought at an average price of $49.78 per share, with a total value of $99,560.00. Following the purchase, the chief executive officer now directly owns 82,672 shares of the company’s stock, valued at approximately $4,115,412.16. The disclosure for this purchase can be found here. Insiders bought a total of 13,571 shares of company stock worth $672,994 in the last quarter. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Brown Shipley& Co Ltd grew its position in shares of Bristol-Myers Squibb by 1.8% during the 2nd quarter. Brown Shipley& Co Ltd now owns 9,161 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 164 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in shares of Bristol-Myers Squibb by 1.0% during the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,472 shares of the biopharmaceutical company’s stock valued at $1,117,000 after acquiring an additional 169 shares during the period. Chesapeake Wealth Management grew its position in shares of Bristol-Myers Squibb by 0.8% during the 2nd quarter. Chesapeake Wealth Management now owns 21,243 shares of the biopharmaceutical company’s stock valued at $1,359,000 after acquiring an additional 177 shares during the period. Riversedge Advisors LLC grew its position in shares of 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 acquiring an additional 178 shares during the period. Finally, Vicus Capital grew its position in shares of 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 acquiring an additional 179 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.

About Bristol-Myers Squibb

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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.

See Also

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

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