Research Analysts Issue Forecasts for Bristol-Myers Squibb's Q2 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Investment analysts at Leerink Partnrs dropped their Q2 2024 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a research report issued to clients and investors on Wednesday, April 10th. Leerink Partnrs analyst D. Risinger now expects that the biopharmaceutical company will post earnings per share of $1.80 for the quarter, down from their previous estimate of $1.88. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $6.63 per share.

BMY has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on Bristol-Myers Squibb from $58.00 to $51.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 6th. StockNews.com raised Bristol-Myers Squibb from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 1st. William Blair reiterated a "market perform" rating on shares of Bristol-Myers Squibb in a report on Monday, April 1st. Bank of America lowered shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $68.00 to $60.00 in a report on Wednesday, January 3rd. Finally, Societe Generale downgraded shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research note on Monday, March 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $61.12.

Bristol-Myers Squibb Price Performance

NYSE:BMY traded down $1.17 on Thursday, hitting $49.12. The company had a trading volume of 11,738,419 shares, compared to its average volume of 16,065,917. The firm has a 50 day moving average of $51.29 and a two-hundred day moving average of $51.92. The stock has a market capitalization of $99.55 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.54 and a beta of 0.39. Bristol-Myers Squibb has a 52 week low of $47.58 and a 52 week high of $70.93. 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 (NYSE:BMY - Get Free Report) last issued 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 return on equity of 50.95% and a net margin of 17.83%. The firm had revenue of $11.48 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter worth approximately $1,560,524,000. Northern Trust Corp grew its stake in shares of Bristol-Myers Squibb by 5.8% in the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company's stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares in the last quarter. Primecap Management Co. CA increased its stake in Bristol-Myers Squibb by 14.6% in the 4th quarter. Primecap Management Co. CA now owns 23,534,378 shares of the biopharmaceutical company's stock valued at $1,207,549,000 after buying an additional 2,998,228 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of 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 valued at $1,544,751,000 after acquiring an additional 21,451,006 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in 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 valued at $1,016,502,000 after purchasing an additional 2,814,746 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, April 4th. Bristol-Myers Squibb's dividend payout ratio is presently 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.