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

Bristol-Myers Squibb (NYSE:BMY) – Equities research analysts at William Blair lowered their FY2024 earnings per share 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 earn $6.27 per share for the year, down from their prior forecast 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.

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

Bristol-Myers Squibb Price Performance

Shares of 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. Bristol-Myers Squibb has a 1 year low of $47.58 and a 1 year high of $70.93. The business has a fifty day simple moving average of $51.25 and a 200 day simple moving average of $51.57. The firm has a market cap 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.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the company earned $1.82 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at about $1,560,524,000. Northern Trust Corp lifted its stake 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 purchasing an additional 1,394,158 shares during the period. Primecap Management Co. CA lifted 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 worth $1,207,549,000 after purchasing an additional 2,998,228 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in Bristol-Myers Squibb by 114,228.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the period. Finally, Legal & General Group Plc lifted its stake in Bristol-Myers Squibb by 16.6% during the fourth quarter. Legal & General Group Plc now owns 19,811,009 shares of the biopharmaceutical company’s stock worth $1,016,502,000 after purchasing an additional 2,814,746 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 5th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb’s payout ratio is presently 62.18%.

About Bristol-Myers Squibb

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.