FY2018 EPS Estimates for Bristol-Myers Squibb Co. (BMY) Reduced by Analyst
Bristol-Myers Squibb Co. (NYSE:BMY) – Analysts at Leerink Swann dropped their FY2018 earnings per share estimates for shares of Bristol-Myers Squibb in a research note issued to investors on Thursday. Leerink Swann analyst S. Fernandez now forecasts that the firm will post earnings per share of $3.26 for the year, down from their prior estimate of $3.94. Leerink Swann has a “Buy” rating and a $69.00 price target 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.
A number of other equities analysts have also recently issued reports on BMY. Vetr raised 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 research report on Monday, July 25th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, June 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $60.00 price target on shares of Bristol-Myers Squibb in a research report on Saturday, September 3rd. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Finally, SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and dropped their price target for the company from $86.00 to $68.00 in a research report 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 issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $69.61.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 9.2448% during midday trading on Monday, hitting $50.3056. The stock had a trading volume of 17,836,494 shares. Bristol-Myers Squibb has a 52 week low of $49.92 and a 52 week high of $77.12. The company has a market cap of $84.05 billion, a price-to-earnings ratio of 29.4185 and a beta of 0.75. The stock’s 50-day moving average price is $56.41 and its 200 day moving average price is $66.79.
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Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (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 company earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of BMY. Vanguard Group Inc. increased 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 worth $8,057,758,000 after buying an additional 3,595,648 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Bristol-Myers Squibb by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 44,742,184 shares of the biopharmaceutical company’s stock worth $2,858,131,000 after buying an additional 844,233 shares in the last quarter. Jennison Associates LLC increased its stake in Bristol-Myers Squibb by 4.1% in the second quarter. Jennison Associates LLC now owns 28,064,140 shares of the biopharmaceutical company’s stock worth $2,064,118,000 after buying an additional 1,099,210 shares in the last quarter. BlackRock Fund Advisors increased its stake in Bristol-Myers Squibb by 2.9% in the second quarter. BlackRock Fund Advisors now owns 23,780,943 shares of the biopharmaceutical company’s stock worth $1,749,088,000 after buying an additional 659,425 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in Bristol-Myers Squibb by 5.2% in the second quarter. Janus Capital Management LLC now owns 21,937,539 shares of the biopharmaceutical company’s stock worth $1,613,481,000 after buying an additional 1,094,167 shares in the last quarter. 72.88% of the stock is owned by institutional investors.
In other news, Director Lamberto Andreotti sold 23,200 shares of Bristol-Myers Squibb 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 completion of the sale, the director now directly owns 364,999 shares of the company’s stock, valued at approximately $21,596,990.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
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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