Analysts Offer Predictions for Bristol-Myers Squibb’s Q2 2022 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY – Get Rating) – Analysts at William Blair lowered their Q2 2022 earnings estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Monday, May 2nd. William Blair analyst M. Phipps now expects that the biopharmaceutical company will earn $1.87 per share for the quarter, down from their previous forecast of $2.00. William Blair also issued estimates for Bristol-Myers Squibb’s Q3 2022 earnings at $2.03 EPS and Q4 2023 earnings at $1.88 EPS.

Several other equities analysts have also recently weighed in on BMY. StockNews.com began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. BMO Capital Markets increased their price objective on shares of Bristol-Myers Squibb from $87.00 to $92.00 in a research note on Monday. Guggenheim increased their price objective on shares of Bristol-Myers Squibb from $72.00 to $80.00 in a research note on Monday. Wells Fargo & Company increased their price objective on shares of Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 2nd. Finally, Truist Financial increased their price objective on shares of Bristol-Myers Squibb from $76.00 to $81.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol-Myers Squibb has a consensus rating of “Buy” and a consensus target price of $71.33.

BMY opened at $75.05 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.43 and a current ratio of 1.52. The stock has a market capitalization of $163.59 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.58 and a beta of 0.49. The company’s 50-day simple moving average is $72.94 and its two-hundred day simple moving average is $65.39. Bristol-Myers Squibb has a 52-week low of $53.22 and a 52-week high of $78.17.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its earnings results on Friday, April 29th. 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. The business had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $11.34 billion. Bristol-Myers Squibb had a net margin of 13.31% and a return on equity of 46.70%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 EPS.

The company also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Friday, April 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, March 31st. Bristol-Myers Squibb’s payout ratio is 76.60%.

In other Bristol-Myers Squibb news, SVP Karen Murphy Santiago sold 6,577 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $69.19, for a total transaction of $455,062.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Giovanni Caforio sold 25,000 shares of the stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $71.52, for a total transaction of $1,788,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,668 shares of company stock valued at $11,459,888. Insiders own 0.09% of the company’s stock.

Several hedge funds have recently bought and sold shares of BMY. OLD Mission Capital LLC purchased a new position in shares of Bristol-Myers Squibb in the third quarter valued at $234,000. EagleClaw Capital Managment LLC grew its holdings in shares of Bristol-Myers Squibb by 2.9% in the third quarter. EagleClaw Capital Managment LLC now owns 64,447 shares of the biopharmaceutical company’s stock valued at $3,823,000 after purchasing an additional 1,800 shares in the last quarter. Chilton Investment Co. LLC grew its holdings in shares of Bristol-Myers Squibb by 15.4% in the third quarter. Chilton Investment Co. LLC now owns 8,256 shares of the biopharmaceutical company’s stock valued at $489,000 after purchasing an additional 1,100 shares in the last quarter. Trustcore Financial Services LLC grew its holdings in shares of Bristol-Myers Squibb by 5.1% in the third quarter. Trustcore Financial Services LLC now owns 14,988 shares of the biopharmaceutical company’s stock valued at $887,000 after purchasing an additional 725 shares in the last quarter. Finally, Duality Advisers LP boosted its stake in Bristol-Myers Squibb by 246.1% during the third quarter. Duality Advisers LP now owns 84,816 shares of the biopharmaceutical company’s stock worth $5,019,000 after buying an additional 60,313 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Bristol-Myers Squibb Company Profile (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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