William Blair Comments on Bristol-Myers Squibb Company’s FY2019 Earnings (BMY)
Bristol-Myers Squibb Company (NYSE:BMY) – Analysts at William Blair cut their FY2019 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Wednesday. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $3.58 per share for the year, down from their previous forecast of $3.71. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Bristol-Myers Squibb’s FY2020 earnings at $3.92 EPS.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS.
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Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets cut shares of Bristol-Myers Squibb from a “market perform” rating to an “underperform” rating and set a $47.00 price target on the stock. in a research report on Wednesday, May 3rd. Robert W. Baird started coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, April 25th. They issued an “outperform” rating on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, June 5th. Piper Jaffray Companies set a $60.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Thursday, July 27th. Finally, Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $58.88 price target on the stock in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of “Buy” and a consensus price target of $62.12.
Shares of Bristol-Myers Squibb (NYSE BMY) traded down 0.965% during midday trading on Thursday, reaching $56.945. 2,876,106 shares of the company were exchanged. The company has a market capitalization of $93.39 billion, a PE ratio of 20.798 and a beta of 1.17. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $60.45. The firm’s 50 day moving average is $55.91 and its 200-day moving average is $54.89.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Bristol-Myers Squibb by 0.3% in the second quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock valued at $6,611,829,000 after buying an additional 333,685 shares during the period. BlackRock Inc. boosted its position in Bristol-Myers Squibb by 2.4% in the second quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock valued at $5,541,612,000 after buying an additional 2,367,864 shares during the period. State Street Corp boosted its position in Bristol-Myers Squibb by 1.8% in the first quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock valued at $3,746,446,000 after buying an additional 1,223,457 shares during the period. Dodge & Cox boosted its position in Bristol-Myers Squibb by 1.6% in the second quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock valued at $1,648,168,000 after buying an additional 459,271 shares during the period. Finally, Northern Trust Corp boosted its position in Bristol-Myers Squibb by 3.9% in the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock valued at $1,339,612,000 after buying an additional 910,496 shares during the period. 69.68% of the stock is currently owned by institutional investors.
In other Bristol-Myers Squibb news, Director Theodore R. Samuels II bought 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, July 7th were paid a dividend of $0.39 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.56 annualized dividend and a yield of 2.71%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 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.
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