FY2024 EPS Estimates for Bristol-Myers Squibb (NYSE:BMY) Reduced by William Blair

Bristol-Myers Squibb (NYSE:BMY) – Stock analysts at William Blair lowered their FY2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued to investors on Wednesday, April 17th. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings per share of $6.27 for the year, down from their previous 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.

Several other brokerages have also issued reports on BMY. StockNews.com lowered Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a report on Monday. Wells Fargo & Company dropped their price objective on Bristol-Myers Squibb from $58.00 to $51.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 6th. Bank of America lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Societe Generale lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, Redburn Atlantic lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $77.00 to $54.00 in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.12.

Bristol-Myers Squibb Stock Down 0.9 %

Bristol-Myers Squibb stock opened at $47.83 on Thursday. Bristol-Myers Squibb has a 1-year low of $47.58 and a 1-year high of $70.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market cap of $96.94 billion, a PE ratio of 12.39, a P/E/G ratio of 1.46 and a beta of 0.39. The stock’s fifty day moving average is $51.26 and its two-hundred day moving average is $51.59.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results 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 return on equity of 50.95% and a net margin of 17.83%. The company had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the firm earned $1.82 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up .6% on a year-over-year basis.

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 given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.02%. Bristol-Myers Squibb’s payout ratio is 62.18%.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. True Wealth Design LLC acquired a new stake in shares of Bristol-Myers Squibb during the 4th quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $31,000. Coppell Advisory Solutions LLC purchased a new stake in Bristol-Myers Squibb in the 2nd quarter valued at approximately $28,000. Live Oak Investment Partners purchased a new stake in Bristol-Myers Squibb in the 4th quarter valued at approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in Bristol-Myers Squibb in the 3rd quarter valued at approximately $25,000. 76.41% of the stock is currently 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.