Cantor Fitzgerald Analysts Raise Earnings Estimates for BMY

Bristol-Myers Squibb (NYSE:BMY) – Research analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for Bristol-Myers Squibb in a research report issued to clients and investors on Tuesday, February 4th. Cantor Fitzgerald analyst O. Brayer now forecasts that the biopharmaceutical company will post earnings per share of $0.93 for the year, up from their previous estimate of $0.92. Cantor Fitzgerald has a “Neutral” rating and a $55.00 price objective on the stock. The consensus estimate for Bristol-Myers Squibb’s current full-year earnings is $0.92 per share. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb’s FY2025 earnings at $6.65 EPS.

BMY has been the subject of a number of other research reports. Daiwa America raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price objective 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. BMO Capital Markets lifted their price objective on shares of Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.93.

Bristol-Myers Squibb Stock Down 1.3 %

Shares of BMY stock opened at $59.15 on Wednesday. The firm has a fifty day moving average of $57.63 and a 200-day moving average of $53.47. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.10. The company has a market capitalization of $119.97 billion, a price-to-earnings ratio of -16.48, a P/E/G ratio of 2.10 and a beta of 0.45.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Checchi Capital Advisers LLC grew its holdings in Bristol-Myers Squibb by 6.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 12,038 shares of the biopharmaceutical company’s stock worth $681,000 after acquiring an additional 774 shares during the last quarter. Bryn Mawr Capital Management LLC grew its holdings in Bristol-Myers Squibb by 4.4% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 7,590 shares of the biopharmaceutical company’s stock worth $429,000 after acquiring an additional 318 shares during the last quarter. Gibraltar Capital Management Inc. grew its holdings in Bristol-Myers Squibb by 1.4% during the 4th quarter. Gibraltar Capital Management Inc. now owns 116,868 shares of the biopharmaceutical company’s stock worth $6,610,000 after acquiring an additional 1,600 shares during the last quarter. Advisor OS LLC grew its holdings in Bristol-Myers Squibb by 30.2% during the 4th quarter. Advisor OS LLC now owns 5,457 shares of the biopharmaceutical company’s stock worth $309,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in Bristol-Myers Squibb by 20.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 14,722 shares of the biopharmaceutical company’s stock worth $833,000 after acquiring an additional 2,498 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol-Myers Squibb Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were given a $0.62 dividend. The ex-dividend date was Friday, January 3rd. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. Bristol-Myers Squibb’s payout ratio is presently -69.08%.

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.