Bristol-Myers Squibb Co. (NYSE:BMY) – Research analysts at Leerink Swann dropped their FY2018 earnings per share (EPS) estimates for shares of Bristol-Myers Squibb in a report issued on Thursday. Leerink Swann analyst S. Fernandez now expects that the brokerage will earn $3.26 per share for the year, down from their previous forecast of $3.94. Leerink Swann currently has a “Outperform” rating and a $69.00 target price on the stock. Leerink Swann also issued estimates for Bristol-Myers Squibb’s FY2019 earnings at $3.82 EPS and FY2020 earnings at $4.56 EPS.
Several other research analysts have also issued reports on BMY. Vetr upgraded Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a research note on Monday, July 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, June 15th. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price objective on shares of Bristol-Myers Squibb in a research note on Saturday, September 3rd. Zacks Investment Research lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, SunTrust Banks Inc. lowered Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and lowered their target price for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $69.31.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.93% during midday trading on Monday, reaching $50.01. 18,133,948 shares of the company traded hands. The company has a 50-day moving average price of $55.86 and a 200-day moving average price of $66.63. The company has a market cap of $83.56 billion, a price-to-earnings ratio of 29.25 and a beta of 0.74. Bristol-Myers Squibb has a 12-month low of $49.50 and a 12-month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share.
Institutional investors have recently modified their holdings of the company. WESPAC Advisors SoCal LLC raised its stake in Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 75 shares during the period. Jolley Asset Management LLC raised its stake in Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 80 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol-Myers Squibb during the second quarter worth approximately $163,000. Perkins Coie Trust Co raised its stake in Bristol-Myers Squibb by 3.1% in the third quarter. Perkins Coie Trust Co now owns 2,239 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 68 shares during the period. Finally, Solaris Asset Management LLC raised its stake in Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 75 shares during the period. 72.88% of the stock is owned by institutional investors and hedge funds.
In other news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 3.04%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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