Bristol-Myers Squibb Co (NYSE:BMY) – William Blair lowered their Q3 2018 earnings per share estimates for Bristol-Myers Squibb in a research report issued on Wednesday. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will post earnings of $0.78 per share for the quarter, down from their previous estimate of $0.81. William Blair also issued estimates for Bristol-Myers Squibb’s FY2018 earnings at $3.21 EPS and FY2019 earnings at $3.81 EPS.
Several other research firms have also commented on BMY. Citigroup set a $78.00 price target on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $51.56 to $78.00 in a research report on Thursday. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. BMO Capital Markets set a $51.00 price target on shares of Bristol-Myers Squibb and gave the company a “sell” rating in a research report on Wednesday. Finally, Leerink Swann increased their price target on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.73.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.35 billion. Bristol-Myers Squibb had a net margin of 4.85% and a return on equity of 35.43%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share.
A number of large investors have recently bought and sold shares of BMY. Renaissance Technologies LLC raised its stake in Bristol-Myers Squibb by 108.5% during the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after purchasing an additional 7,020,200 shares during the period. BlackRock Inc. raised its stake in Bristol-Myers Squibb by 5.0% during the fourth quarter. BlackRock Inc. now owns 104,293,294 shares of the biopharmaceutical company’s stock worth $6,391,093,000 after purchasing an additional 4,945,515 shares during the period. Franklin Resources Inc. raised its stake in shares of Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after acquiring an additional 3,960,191 shares during the period. Jennison Associates LLC raised its stake in shares of Bristol-Myers Squibb by 16.2% in the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock valued at $1,711,689,000 after acquiring an additional 3,735,453 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after acquiring an additional 3,516,536 shares during the period. 69.56% of the stock is currently owned by institutional investors.
In related news, Director Theodore R. Samuels II purchased 4,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were bought at an average price of $62.30 per share, with a total value of $249,200.00. Following the completion of the purchase, the director now directly owns 22,000 shares in the company, valued at approximately $1,370,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sandra Leung sold 156,582 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the transaction, the executive vice president now directly owns 584,373 shares in the company, valued at approximately $37,031,717.01. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Friday, January 5th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.39. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 67.80%.
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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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