William Blair Has Optimistic Outlook of BMY Q4 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at William Blair upped their Q4 2024 earnings estimates for shares of Bristol-Myers Squibb in a research note issued on Tuesday, January 21st. William Blair analyst M. Phipps now anticipates that the biopharmaceutical company will post earnings of $1.47 per share for the quarter, up from their prior estimate of $1.46. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.92 per share. William Blair also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $7.37 EPS.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 earnings per share.

BMY has been the subject of several other reports. Truist Financial upped their price target on shares of Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. UBS Group raised their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wolfe Research initiated coverage on shares of Bristol-Myers Squibb in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.27.

Bristol-Myers Squibb Price Performance

BMY stock opened at $57.01 on Wednesday. The firm has a market cap of $115.63 billion, a P/E ratio of -15.88, a P/E/G ratio of 1.98 and a beta of 0.45. The firm’s fifty day moving average is $57.46 and its 200 day moving average is $52.20. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.08. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.35%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s dividend payout ratio is currently -69.08%.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at approximately $654,091.20. This trade represents a 5.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samit Hirawat bought 1,830 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

Large investors have recently made changes to their positions in the business. FMR LLC increased its position in Bristol-Myers Squibb by 10.5% during the 3rd quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after buying an additional 4,275,787 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Bristol-Myers Squibb by 420.1% in the third quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock worth $219,443,000 after acquiring an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Bristol-Myers Squibb by 695.1% during the third quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock valued at $183,971,000 after acquiring an additional 3,107,672 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bristol-Myers Squibb by 18.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after purchasing an additional 3,002,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Bristol-Myers Squibb by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after purchasing an additional 1,968,729 shares during the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

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.