William Blair Has Negative Forecast for BMY Q4 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Equities researchers at William Blair reduced their Q4 2024 earnings estimates for shares of Bristol-Myers Squibb in a research note issued on Monday, November 11th. William Blair analyst M. Phipps now expects that the biopharmaceutical company will post earnings of $1.46 per share for the quarter, down from their previous estimate of $1.47. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.92 per share.

Several other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They issued a “market perform” rating and a $56.00 target price for the company. Daiwa Capital Markets raised shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays boosted their price target on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Finally, BMO Capital Markets boosted their price target on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.07.

Bristol-Myers Squibb Stock Performance

BMY opened at $58.49 on Wednesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a fifty day moving average price of $52.41 and a 200 day moving average price of $47.07. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $61.08. The stock has a market cap of $118.63 billion, a P/E ratio of -16.24, a P/E/G ratio of 21.34 and a beta of 0.44.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.26 billion. During the same period in the previous year, the business posted $2.00 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.10%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Insider Buying and Selling at Bristol-Myers Squibb

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

Hedge Funds Weigh In On Bristol-Myers Squibb

Hedge funds have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new position in Bristol-Myers Squibb in the third quarter valued at approximately $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% during the third quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 187 shares during the last quarter. ESL Trust Services LLC purchased a new position in shares of Bristol-Myers Squibb during the first quarter worth approximately $27,000. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $28,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb during the third quarter worth approximately $29,000. 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.