Q1 2024 Earnings Forecast for Bristol-Myers Squibb (NYSE:BMY) Issued By William Blair

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at William Blair reduced their Q1 2024 EPS estimates for Bristol-Myers Squibb in a research report issued on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $1.51 per share for the quarter, down from their previous forecast of $1.64. William Blair 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.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the previous year, the firm posted $1.82 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis.

Other analysts have also recently issued research reports about the company. StockNews.com cut Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their target price on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Societe Generale lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Redburn Atlantic downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Finally, Bank of America lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $68.00 to $60.00 in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.18.

Bristol-Myers Squibb Stock Up 1.3 %

BMY stock opened at $48.93 on Friday. The company’s 50 day simple moving average is $51.23 and its 200-day simple moving average is $51.51. Bristol-Myers Squibb has a 52-week low of $47.58 and a 52-week 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 firm has a market capitalization of $99.17 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.44 and a beta of 0.39.

Hedge Funds Weigh In On Bristol-Myers Squibb

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Bristol-Myers Squibb in the 4th quarter valued at $1,560,524,000. Northern Trust Corp grew its position in Bristol-Myers Squibb by 5.8% during the third quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after buying an additional 1,394,158 shares in the last quarter. Primecap Management Co. CA increased its stake in Bristol-Myers Squibb by 14.6% during the fourth quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company’s stock valued at $1,207,549,000 after acquiring an additional 2,998,228 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Bristol-Myers Squibb by 114,228.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock valued at $1,544,751,000 after acquiring an additional 21,451,006 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Bristol-Myers Squibb by 16.6% in the 4th quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company’s stock worth $1,016,502,000 after acquiring an additional 2,814,746 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 62.18%.

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.