Zacks Research Brokers Boost Earnings Estimates for BMY

Key Points

• Zacks Research raised Bristol Myers Squibb’s Q3 2028 earnings estimate to $1.17 per share from $1.16 and maintained a “Strong Buy” rating. Analysts’ consensus full-year earnings estimate is $6.95 per share.
• BMY shares opened at $61.40, below their 50-day moving average, while the broader analyst consensus remains “Moderate Buy” with a $67.06 price target.
• The company recently reported quarterly EPS of $2.04, well above the $1.60 consensus, and declared a $0.63 quarterly dividend, representing a 4.1% annualized yield.

Bristol Myers Squibb Company (NYSE:BMY - Free Report) - Investment analysts at Zacks Research upped their Q3 2028 earnings estimates for Bristol Myers Squibb in a research note issued to investors on Thursday, September 24th. Zacks Research analyst Team now forecasts that the biopharmaceutical company will earn $1.17 per share for the quarter, up from their previous forecast of $1.16. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Bristol Myers Squibb's current full-year earnings is $6.95 per share.

Several other equities research analysts also recently weighed in on BMY. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $59.00 price target (up from $54.00) on shares of Bristol Myers Squibb in a report on Friday, July 31st. Weiss Ratings raised shares of Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 18th. UBS Group cut shares of Bristol Myers Squibb from a "buy" rating to a "neutral" rating in a report on Wednesday, August 5th. TD Cowen initiated coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They issued a "buy" rating on the stock. Finally, Citigroup reiterated a "neutral" rating and set a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bristol Myers Squibb presently has an average rating of "Moderate Buy" and a consensus target price of $67.06.

Bristol Myers Squibb Stock Down 1.6%

BMY opened at $61.40 on Friday. The business has a 50 day moving average price of $64.63 and a two-hundred day moving average price of $60.25. Bristol Myers Squibb has a 52 week low of $42.52 and a 52 week high of $68.64. The company has a market cap of $125.42 billion, a PE ratio of 13.52, a P/E/G ratio of 0.30 and a beta of 0.19. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.44. The firm had revenue of $12.97 billion during the quarter, compared to analysts' expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%.The business's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.52 annualized dividend and a dividend yield of 4.1%. Bristol Myers Squibb's payout ratio is 55.51%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the transaction, the senior vice president directly owned 16,862 shares of the company's stock, valued at $1,138,185. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristol Myers Squibb

Several large investors have recently bought and sold shares of the company. KCM Investment Advisors LLC lifted its holdings in shares of Bristol Myers Squibb by 0.8% in the fourth quarter. KCM Investment Advisors LLC now owns 20,871 shares of the biopharmaceutical company's stock valued at $1,126,000 after purchasing an additional 174 shares in the last quarter. Sandy Cove Advisors LLC raised its position in shares of Bristol Myers Squibb by 4.7% in the second quarter. Sandy Cove Advisors LLC now owns 3,932 shares of the biopharmaceutical company's stock valued at $227,000 after buying an additional 176 shares during the last quarter. Investment Research Partners LLC lifted its stake in shares of Bristol Myers Squibb by 1.4% during the fourth quarter. Investment Research Partners LLC now owns 13,134 shares of the biopharmaceutical company's stock valued at $708,000 after buying an additional 179 shares during the period. REAP Financial Group LLC boosted its holdings in shares of Bristol Myers Squibb by 26.1% during the fourth quarter. REAP Financial Group LLC now owns 879 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 182 shares during the last quarter. Finally, Key Financial Inc grew its position in shares of Bristol Myers Squibb by 2.4% in the first quarter. Key Financial Inc now owns 7,939 shares of the biopharmaceutical company's stock valued at $482,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 76.41% of the company's stock.

More Bristol Myers Squibb News

Here are the key news stories impacting Bristol Myers Squibb this week:

• Positive Sentiment: The FDA expanded approval of CAMZYOS (mavacamten) to include pediatric patients with symptomatic obstructive hypertrophic cardiomyopathy. The broader eligible population could support additional product growth and strengthens BMY’s commercial outlook. FDA approves expanded CAMZYOS indication
• Positive Sentiment: Strong Phase 3 data for ZENBEXUS (iberdomide) in relapsed or refractory multiple myeloma showed a statistically significant improvement in minimal residual disease-negative complete responses, potentially supporting an accelerated approval path and future pipeline value. ZENBEXUS Phase 3 data
• Positive Sentiment: Bristol Myers Squibb declared a quarterly dividend of $0.63, reinforcing its income appeal, although future dividend growth depends on cash flow generation. BMY quarterly dividend
• Neutral Sentiment: Updates on real-world studies for AUGTYRO and luspatercept, along with broader healthcare-professional outreach, provide supportive commercial and clinical evidence but do not represent major new revenue catalysts yet.
• Neutral Sentiment: Johnson & Johnson continues to generate higher quarterly revenue than BMY, while both companies have shown generally gradual revenue growth. The comparison highlights BMY’s smaller scale but does not materially change its near-term earnings outlook. Bristol Myers Squibb versus Johnson & Johnson revenue comparison
• Negative Sentiment: BMY terminated an early-stage leukemia study, removing a risky pipeline bet but also signaling diminished prospects for that program. BMY terminates early leukemia trial
• Negative Sentiment: Testing of experimental fibrosis drug admilparant involved a limited number of liver-related safety events, including a patient death. Although causation remains unclear, the report undermines confidence in the program and the broader drug class. Bristol Myers trial revisions and fibrosis-drug safety concerns
• Negative Sentiment: Analysts and investors continue to focus on the potential 2027 patent cliff affecting BMY’s largest cash generator. The resulting pressure on future cash flow could challenge the company’s 17-year dividend-growth streak and weigh on valuation. Bristol Myers Squibb dividend sustainability concerns

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb's portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.

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