Bristol-Myers Squibb (NYSE:BMY – Get Rating) – William Blair dropped their Q2 2023 earnings per share estimates for shares of Bristol-Myers Squibb in a research report issued to clients and investors on Monday, September 12th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings per share of $2.00 for the quarter, down from their previous estimate of $2.01. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $7.51 per share. William Blair also issued estimates for Bristol-Myers Squibb’s Q4 2023 earnings at $1.91 EPS.
Several other equities analysts have also recently issued reports on the company. Atlantic Securities lifted their price objective on Bristol-Myers Squibb from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James cut Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a report on Friday, June 3rd. They noted that the move was a valuation call. BMO Capital Markets lifted their price objective on Bristol-Myers Squibb from $92.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America lifted their price objective on Bristol-Myers Squibb from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 6th. Finally, Citigroup reaffirmed a “buy” rating and set a $90.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, June 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.36.
Bristol-Myers Squibb Stock Down 0.8 %
Bristol-Myers Squibb (NYSE:BMY – Get Rating) last announced its earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.50 billion. During the same period last year, the business posted $1.93 EPS. The company’s revenue was up 1.6% on a year-over-year basis.
Hedge Funds Weigh In On Bristol-Myers Squibb
Institutional investors have recently added to or reduced their stakes in the business. Schubert & Co increased its stake in Bristol-Myers Squibb by 119.1% in the second quarter. Schubert & Co now owns 333 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 181 shares during the last quarter. Mizuho Securities Co. Ltd. grew its position in Bristol-Myers Squibb by 239.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 339 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 239 shares during the period. Castle Wealth Management LLC purchased a new stake in Bristol-Myers Squibb during the second quarter valued at about $26,000. Spectrum Management Group LLC grew its position in Bristol-Myers Squibb by 113.1% during the first quarter. Spectrum Management Group LLC now owns 341 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 181 shares during the period. Finally, Nauset Wealth Management. LLC purchased a new stake in Bristol-Myers Squibb during the first quarter valued at about $27,000. 76.54% 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, 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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