Bristol-Myers Squibb Company (NYSE:BMY) – Equities researchers at Leerink Swann boosted their FY2018 EPS estimates for shares of Bristol-Myers Squibb in a note issued to investors on Monday. Leerink Swann analyst S. Fernandez now expects that the biopharmaceutical company will post earnings of $3.10 per share for the year, up from their previous forecast of $2.91. Leerink Swann has a “Outperform” rating and a $72.00 price target on the stock. Leerink Swann also issued estimates for Bristol-Myers Squibb’s FY2019 earnings at $3.31 EPS, FY2020 earnings at $3.85 EPS and FY2021 earnings at $4.03 EPS.
A number of other equities research analysts also recently issued reports on the stock. Hilliard Lyons downgraded shares of Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $65.00 price target (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Thursday, September 7th. Barclays PLC lifted their price target on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group LLC lifted their price target on shares of Bristol-Myers Squibb from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, September 11th. Finally, Piper Jaffray Companies set a $60.00 price target on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $64.53.
Bristol-Myers Squibb (NYSE BMY) traded down 4.87% during midday trading on Wednesday, reaching $60.88. The company’s stock had a trading volume of 9,440,255 shares. The firm has a market capitalization of $99.84 billion, a P/E ratio of 22.24 and a beta of 1.19. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $66.10. The company’s 50-day moving average is $63.60 and its 200 day moving average is $57.54.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the firm posted $0.77 earnings per share. Bristol-Myers Squibb’s quarterly revenue was up 6.7% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the business. Blue Chip Partners Inc. grew its stake in Bristol-Myers Squibb by 0.7% in the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after acquiring an additional 15 shares during the period. Jackson Grant Investment Advisers Inc. grew its stake in Bristol-Myers Squibb by 0.4% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock worth $218,000 after acquiring an additional 15 shares during the period. Keel Point LLC grew its stake in Bristol-Myers Squibb by 0.3% in the 1st quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 18 shares during the period. Staley Capital Advisers Inc. grew its stake in Bristol-Myers Squibb by 0.3% in the 1st quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock worth $379,000 after acquiring an additional 24 shares during the period. Finally, Shayne & CO. LLC grew its stake in Bristol-Myers Squibb by 0.6% in the 2nd quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 24 shares during the period. 68.90% of the stock is owned by hedge funds and other institutional investors.
In other Bristol-Myers Squibb news, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the sale, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II bought 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 6th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.56 annualized dividend and a yield of 2.44%. Bristol-Myers Squibb’s payout ratio is currently 56.73%.
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.