FY2024 EPS Estimates for Bristol-Myers Squibb Raised by Cantor Fitzgerald (NYSE:BMY)

Bristol-Myers Squibb (NYSE:BMY) – Investment analysts at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Monday, July 29th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings of $0.80 per share for the year, up from their previous forecast of $0.55. Cantor Fitzgerald currently has a “Neutral” rating and a $45.00 price objective on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.78 per share.

A number of other analysts have also issued reports on the company. Barclays lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $41.00 price objective on the stock. in a research note on Monday. Wells Fargo & Company boosted their price objective on Bristol-Myers Squibb from $51.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. BMO Capital Markets decreased their price objective on Bristol-Myers Squibb from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.79.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $48.17 on Wednesday. The firm has a market cap of $97.66 billion, a PE ratio of -15.54, a PEG ratio of 12.58 and a beta of 0.44. The stock’s fifty day moving average price is $42.24 and its two-hundred day moving average price is $46.76. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 0.99. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.41.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend was Friday, July 5th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of hedge funds and other institutional investors have recently modified their holdings of BMY. PFG Advisors boosted its holdings in shares of Bristol-Myers Squibb by 6.1% in the 4th quarter. PFG Advisors now owns 5,649 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 323 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Bristol-Myers Squibb by 787.9% in the 4th quarter. First Citizens Bank & Trust Co. now owns 81,973 shares of the biopharmaceutical company’s stock worth $4,206,000 after purchasing an additional 72,741 shares in the last quarter. Colonial River Wealth Management LLC boosted its holdings in shares of Bristol-Myers Squibb by 17.0% in the 4th quarter. Colonial River Wealth Management LLC now owns 8,981 shares of the biopharmaceutical company’s stock worth $461,000 after purchasing an additional 1,308 shares in the last quarter. Trust Point Inc. purchased a new position in shares of Bristol-Myers Squibb in the 4th quarter worth about $904,000. Finally, Richard W. Paul & Associates LLC boosted its holdings in shares of Bristol-Myers Squibb by 50.8% in the 4th quarter. Richard W. Paul & Associates LLC now owns 11,791 shares of the biopharmaceutical company’s stock worth $605,000 after purchasing an additional 3,973 shares in 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.