Leerink Swann Comments on Bristol-Myers Squibb Co.’s FY2017 Earnings (BMY)
Bristol-Myers Squibb Co. (NYSE:BMY) – Leerink Swann reduced their FY2017 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Thursday. Leerink Swann analyst S. Fernandez now forecasts that the firm will post earnings of $3.01 per share for the year, down from their prior estimate of $3.17. Leerink Swann currently has a “Buy” rating and a $75.00 target price on the stock.
Several other brokerages have also weighed in on BMY. Jefferies Group upped their price objective on shares of Bristol-Myers Squibb from $77.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Wednesday, July 13th. Berenberg Bank reiterated a “buy” rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Vetr upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective on the stock in a report on Monday, July 25th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $86.00 to $68.00 in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $69.91.
Bristol-Myers Squibb (NYSE:BMY) opened at 55.43 on Friday. The company’s 50-day moving average price is $56.41 and its 200-day moving average price is $66.79. The company has a market cap of $92.62 billion, a PE ratio of 32.42 and a beta of 0.74. Bristol-Myers Squibb has a 12-month low of $53.56 and a 12-month high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter last year, the company posted $0.53 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 17.2% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
In other news, Director Lamberto Andreotti sold 23,200 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $59.17, for a total transaction of $1,372,744.00. Following the sale, the director now owns 364,999 shares in the company, valued at approximately $21,596,990.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the period. Bank of Montreal Can bought a new stake in Bristol-Myers Squibb during the second quarter valued at $154,732,000. Sustainable Growth Advisers LP boosted its stake in Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares during the period. Jarislowsky Fraser Ltd boosted its stake in Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock valued at $100,571,000 after buying an additional 1,332,163 shares during the period. Finally, WestEnd Advisors LLC bought a new stake in Bristol-Myers Squibb during the second quarter valued at $94,956,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.
About Bristol-Myers Squibb
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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