William Blair Weighs in on Bristol-Myers Squibb's Q1 2024 Earnings (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY - Free Report) - Stock analysts at William Blair lowered their Q1 2024 earnings per share (EPS) estimates for Bristol-Myers Squibb in a report issued on Wednesday, April 17th. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings of $1.51 per share for the quarter, down from their prior estimate of $1.64. William Blair currently has a "Market Perform" rating on the stock. The consensus estimate for Bristol-Myers Squibb's current full-year earnings is $6.63 per share.

Bristol-Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.15. The business had revenue of $11.48 billion for the quarter, compared to analyst estimates of $11.19 billion. Bristol-Myers Squibb had a net margin of 17.83% and a return on equity of 50.95%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share.

Several other equities analysts have also recently weighed in on the stock. StockNews.com cut shares of Bristol-Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Monday. Redburn Atlantic cut shares of Bristol-Myers Squibb from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $77.00 to $54.00 in a research report on Tuesday, February 6th. Wells Fargo & Company lifted their price objective 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. Societe Generale lowered shares of Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research note on Monday, March 11th. 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 equities 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 Trading Up 1.3 %

NYSE BMY traded up $0.63 on Friday, hitting $48.93. 10,272,342 shares of the stock were exchanged, compared to its average volume of 15,709,757. 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 company has a market capitalization of $99.17 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.44 and a beta of 0.39. The company's 50-day moving average price is $51.23 and its two-hundred day moving average price is $51.51.

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, April 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. Bristol-Myers Squibb's payout ratio is 62.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMY. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the 4th quarter worth about $1,560,524,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Bristol-Myers Squibb by 114,228.7% during the 4th 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. Van ECK Associates Corp increased its holdings in shares of Bristol-Myers Squibb by 792.6% during the 4th quarter. Van ECK Associates Corp now owns 4,030,939 shares of the biopharmaceutical company's stock worth $206,828,000 after purchasing an additional 3,579,324 shares during the period. Primecap Management Co. CA increased its holdings in shares of Bristol-Myers Squibb by 14.6% during the 4th 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. Finally, Legal & General Group Plc increased its holdings in shares of Bristol-Myers Squibb by 16.6% during 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 purchasing an additional 2,814,746 shares during the period. Institutional investors own 76.41% of the company's stock.

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.