William Blair Equities Analysts Reduce Earnings Estimates for Bristol-Myers Squibb (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at William Blair lowered their FY2024 EPS estimates for Bristol-Myers Squibb in a research note issued to investors on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts 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 $6.47 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.20 EPS.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. 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. The business’s revenue for the quarter was up .6% on a year-over-year basis.

Several other analysts have also issued reports on BMY. Wells Fargo & Company increased their price target on shares of Bristol-Myers Squibb from $51.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $68.00 to $60.00 in a research report on Wednesday, January 3rd. Redburn Atlantic lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, StockNews.com lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.18.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $48.30 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $97.89 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.49 and a beta of 0.39. The firm’s 50 day simple moving average is $51.25 and its 200 day simple moving average is $51.57. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.97%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 62.18%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of the business. Naviter Wealth LLC lifted its holdings in shares of Bristol-Myers Squibb by 64.3% during the first quarter. Naviter Wealth LLC now owns 23,719 shares of the biopharmaceutical company’s stock worth $1,286,000 after purchasing an additional 9,284 shares during the period. Quattro Financial Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 88,135.3% during the first quarter. Quattro Financial Advisors LLC now owns 45,000 shares of the biopharmaceutical company’s stock worth $2,440,000 after purchasing an additional 44,949 shares during the period. State of Michigan Retirement System raised its stake in Bristol-Myers Squibb by 208.3% during the first quarter. State of Michigan Retirement System now owns 1,924,733 shares of the biopharmaceutical company’s stock worth $104,378,000 after buying an additional 1,300,400 shares during the last quarter. Westhampton Capital LLC raised its stake in Bristol-Myers Squibb by 63.2% during the first quarter. Westhampton Capital LLC now owns 9,667 shares of the biopharmaceutical company’s stock worth $541,000 after buying an additional 3,745 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its stake in Bristol-Myers Squibb by 2.3% during the first quarter. AlphaMark Advisors LLC now owns 22,605 shares of the biopharmaceutical company’s stock worth $1,226,000 after buying an additional 514 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.