Leerink Partnrs Has Bullish Forecast for BMY FY2028 Earnings

Bristol-Myers Squibb (NYSE:BMY) – Leerink Partnrs upped their FY2028 EPS estimates for Bristol-Myers Squibb in a report released on Tuesday, October 22nd. Leerink Partnrs analyst D. Risinger now forecasts that the biopharmaceutical company will earn $6.40 per share for the year, up from their prior forecast of $6.24. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.77 per share.

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

Other equities research analysts have also issued reports about the stock. Barclays increased their price objective on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Sanford C. Bernstein assumed coverage on shares of Bristol-Myers Squibb in a report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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. UBS Group lifted their target price on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $48.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.20.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $52.76 on Wednesday. The stock has a 50-day moving average price of $50.53 and a 200 day moving average price of $46.35. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $56.77. The stock has a market capitalization of $106.95 billion, a P/E ratio of -17.02, a P/E/G ratio of 13.75 and a beta of 0.46.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.55%. Bristol-Myers Squibb’s dividend payout ratio is presently -77.42%.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds have recently added to or reduced their stakes in BMY. Global Assets Advisory LLC bought a new position in Bristol-Myers Squibb in the 1st quarter valued at $5,161,000. Sunbelt Securities Inc. lifted its holdings in Bristol-Myers Squibb by 19.1% during the 1st quarter. Sunbelt Securities Inc. now owns 10,080 shares of the biopharmaceutical company’s stock valued at $547,000 after buying an additional 1,614 shares in the last quarter. RMR Wealth Builders boosted its position in Bristol-Myers Squibb by 9.8% in the 1st quarter. RMR Wealth Builders now owns 5,805 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 517 shares during the period. Brookstone Capital Management grew its stake in Bristol-Myers Squibb by 36.4% in the 1st quarter. Brookstone Capital Management now owns 150,037 shares of the biopharmaceutical company’s stock worth $8,137,000 after acquiring an additional 40,018 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $83,000. 76.41% of the stock is currently owned by 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.