Where Analysts Stand on BMY after Its Q1 Earnings Results



Stock price movements

Bristol-Myers Squibb (BMY) announced its first-quarter earnings results before the market opened on April 25. In the quarter, Bristol-Myers Squibb reported revenue of $5.92 billion, a YoY (year-over-year) rise of 14.00% on a reported basis and a rise of 18.00% on a constant currency basis. The company surpassed its consensus revenue estimate by $203.18 million.

According to Bristol-Myers Squibb’s first-quarter earnings press release, the company earned $3.4 billion in revenue from the United States, a YoY rise of 24%. The company also reported a YoY revenue rise of 2% from international markets in the first quarter.

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BMY reported GAAP (generally accepted accounting principles) EPS of $1.04, a YoY rise of 14%, in the quarter. The company reported non-GAAP EPS of $1.10, a YoY rise of 17% and $0.02 higher than the consensus estimate.

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Following these results, Bristol-Myers Squibb stock rose 2.28% and closed at $45.64 on April 25. On April 26, the stock closed at $45.89, 0.55% lower than its previous closing price, 3.59% higher than its 52-week low of $44.30, and 27.95% lower than its 52-week high of $63.69. The company’s market cap was $75.44 billion, and its PE, forward PE, price-to-sales, price-to-book, and price-to-cash ratios were 15.10x, 10.39x, 3.34x, 5.34x, and 8.49x, respectively.

Bristol-Myers Squibb’s 14-day RSI (relative strength index) is currently 42.38. The company’s number of outstanding shares is 1.64 billion, while its short interest ratio is 2.94%.

Analysts’ recommendations and target price

Wall Street analysts expect a potential upside of 25.99% for Bristol-Myers Squibb based on the company’s closing price on April 25. Analysts reduced the company’s 12-month consensus target price from $56.82 in January to $56.60 in February but then raised it to $57.00 in March and $57.50 in April.

Of the 14 analysts covering Bristol-Myers Squibb, four have given it “strong buy” recommendations, two have given it “buys,” and eight have given it “holds.”


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