Zacks Research Brokers Increase Earnings Estimates for BMY

Key Points

• Zacks Research modestly raised Bristol Myers Squibb’s earnings estimates, projecting Q3 2027 EPS of $1.56 and FY2027 EPS of $6.24, while forecasting FY2028 EPS of $5.23.
• Bristol Myers Squibb recently beat quarterly expectations with $2.04 EPS versus a $1.60 consensus and $12.97 billion in revenue; analysts maintain a “Moderate Buy” consensus with a $67.06 target price.
• The company declared a quarterly dividend of $0.63, representing a 4.1% annualized yield, though investors remain focused on patent expirations and declining sales from established blockbuster products.

Bristol Myers Squibb Company (NYSE:BMY - Free Report) - Zacks Research lifted their Q3 2027 earnings estimates for Bristol Myers Squibb in a research report issued on Thursday, September 24th. Zacks Research analyst Team now anticipates that the biopharmaceutical company will post earnings of $1.56 per share for the quarter, up from their previous forecast of $1.55. The consensus estimate for Bristol Myers Squibb's current full-year earnings is $6.95 per share. Zacks Research also issued estimates for Bristol Myers Squibb's FY2027 earnings at $6.24 EPS, Q1 2028 earnings at $1.48 EPS, Q2 2028 earnings at $1.38 EPS and FY2028 earnings at $5.23 EPS.

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

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Sanford C. Bernstein raised Bristol Myers Squibb from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 5th. Wells Fargo & Company set a $65.00 price objective on shares of Bristol Myers Squibb and gave the company an "equal weight" rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Bristol Myers Squibb from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. Finally, Piper Sandler restated an "overweight" rating and issued a $82.00 target price (up from $75.00) on shares of Bristol Myers Squibb in a research note on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.06.

Bristol Myers Squibb Stock Up 0.6%

Shares of NYSE BMY opened at $61.54 on Friday. The stock has a fifty day moving average price of $64.44 and a 200 day moving average price of $60.15. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $68.64. The company has a market cap of $125.71 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.30 and a beta of 0.23.

Hedge Funds Weigh In On Bristol Myers Squibb

Large investors have recently added to or reduced their stakes in the company. Davis Asset Management L.P. acquired a new stake in shares of Bristol Myers Squibb during the second quarter worth $27,000. Bayban bought a new stake in shares of Bristol Myers Squibb during the 4th quarter valued at about $31,000. Addison Advisors LLC acquired a new stake in Bristol Myers Squibb during the second quarter worth about $32,000. Groupe la Francaise raised its stake in Bristol Myers Squibb by 562.9% during the second quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 501 shares during the period. Finally, Arlington Trust Co LLC bought a new position in Bristol Myers Squibb in the second quarter worth about $35,000. 76.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Phil M. Holzer sold 500 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the sale, the senior vice president owned 16,862 shares of the company's stock, valued at approximately $1,138,185. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by company insiders.

Bristol Myers Squibb Dividend Announcement

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

More Bristol Myers Squibb News

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

• Positive Sentiment: Zacks Research modestly raised its earnings forecasts for Bristol Myers Squibb, increasing estimates for third-quarter 2027 EPS to $1.56, full-year 2027 EPS to $6.24, first- and second-quarter 2028 EPS to $1.48 and $1.38, respectively, and full-year 2028 EPS to $5.23 from $5.17. The revisions suggest slightly improved expectations for the company’s future earnings. Zacks Research estimates
• Positive Sentiment: BMY was added to Zacks’ Rank #1 Strong Buy list and its Strong Buy income-stock list. The ratings may support demand for the shares, particularly because Bristol Myers Squibb offers significant cash flow and an attractive dividend profile. Zacks Strong Buy list
• Positive Sentiment: The company selected Onco360 as a restricted specialty-pharmacy provider for ZENBEXUS (iberdomide), its newly approved multiple-myeloma treatment. The distribution arrangement and clinical support could help the drug reach eligible patients during its commercial rollout. ZENBEXUS pharmacy network
• Positive Sentiment: Bristol Myers Squibb completed a Phase 1 lung-cancer combination study, providing incremental support for its immuno-oncology pipeline. Analysts also highlighted newer medicines as increasingly important in offsetting declines from mature products. Lung cancer study update
• Negative Sentiment: Despite the near-term positives, investors remain concerned about patent expirations and declines in established blockbuster products. Longer-term Zacks estimates remain below current-year expectations, underscoring the need for newer drugs such as ZENBEXUS to replace lost revenue.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.