William Blair analyst Matt Phipps has maintained their neutral stance on BMY stock, giving a Hold rating today.
Matt Phipps has given his Hold rating due to a combination of factors surrounding Bristol-Myers Squibb’s recent performance and future outlook. The company’s first-quarter results exceeded expectations, with non-GAAP EPS and revenues surpassing both internal estimates and consensus figures. This positive performance was largely driven by strong contributions from legacy programs and new growth portfolio products.
Despite the encouraging results and raised guidance for 2025, which includes higher revenue and EPS expectations, there are still uncertainties that warrant a cautious approach. The updated guidance incorporates favorable foreign exchange impacts but does not consider potential future tariffs, which could affect the company’s financials. Additionally, while the growth portfolio has shown significant progress, the overall market conditions and competitive landscape suggest maintaining a Hold rating is prudent at this time.
In another report released today, TD Cowen also maintained a Hold rating on the stock with a $64.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BMY in relation to earlier this year.