What is William Blair's Estimate for BMY FY2028 Earnings?

Key Points

• Research analysts at William Blair have raised their FY2028 earnings per share estimate for Bristol Myers Squibb to $5.67, compared to a previous estimate of $5.61.
• Several analysts have downgraded their ratings on Bristol Myers Squibb, with Daiwa America moving from "strong-buy" to "hold" and Citigroup lowering its target price from $51 to $47.
• The company reported a quarterly earnings per share of $1.46, exceeding the consensus estimate of $1.07, with revenue of $12.27 billion, also surpassing expectations.

Bristol Myers Squibb Company (NYSE:BMY - Free Report) - Research analysts at William Blair upped their FY2028 earnings per share estimates for shares of Bristol Myers Squibb in a research note issued to investors on Tuesday, September 2nd. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings of $5.67 per share for the year, up from their prior estimate of $5.61. The consensus estimate for Bristol Myers Squibb's current full-year earnings is $6.74 per share.

A number of other research analysts also recently weighed in on BMY. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a report on Tuesday, August 5th. Citigroup cut their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Trading Down 1.0%

NYSE:BMY traded down $0.46 during mid-day trading on Thursday, reaching $46.68. 9,996,945 shares of the company's stock traded hands, compared to its average volume of 13,052,689. Bristol Myers Squibb has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a market capitalization of $95.02 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.41 and a beta of 0.35. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a 50 day moving average price of $47.09 and a 200-day moving average price of $50.44.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the company posted $2.07 EPS. Bristol Myers Squibb's revenue for the quarter was up .6% on a year-over-year basis. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS.

Hedge Funds Weigh In On Bristol Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its stake in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $13,094,000. Cary Street Partners Financial LLC purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $2,301,000. BOKF NA increased its stake in Bristol Myers Squibb by 1.4% in the 4th quarter. BOKF NA now owns 103,029 shares of the biopharmaceutical company's stock worth $5,752,000 after buying an additional 1,464 shares in the last quarter. Finally, Centiva Capital LP increased its stake in Bristol Myers Squibb by 8.7% in the 4th quarter. Centiva Capital LP now owns 19,671 shares of the biopharmaceutical company's stock worth $1,113,000 after buying an additional 1,580 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Insider Transactions at Bristol Myers Squibb

In other news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president directly owned 167,379 shares of the company's stock, valued at $7,922,048.07. This represents a 25.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company's stock.

Bristol Myers Squibb Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.3%. Bristol Myers Squibb's dividend payout ratio is 100.00%.

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.