FY2018 EPS Estimates for Bristol-Myers Squibb Company (BMY) Reduced by William Blair
Bristol-Myers Squibb Company (NYSE:BMY) – Equities researchers at William Blair lowered their FY2018 EPS estimates for Bristol-Myers Squibb in a research note issued to investors on Wednesday. William Blair analyst M. Phipps now forecasts that the biopharmaceutical company will earn $3.01 per share for the year, down from their prior estimate of $3.02. William Blair currently has a “Outperform” rating on the stock.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year.
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Other research analysts have also recently issued reports about the company. Credit Suisse Group set a $58.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Wednesday. Vetr upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 price target for the company in a research report on Thursday. BMO Capital Markets reiterated an “underperform” rating and set a $47.00 price target (down from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Leerink Swann reduced their price target on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb presently has an average rating of “Buy” and a consensus price target of $62.12.
Bristol-Myers Squibb (NYSE:BMY) traded up 0.009% during midday trading on Friday, hitting $56.775. 1,972,371 shares of the stock traded hands. The company has a 50-day moving average of $55.93 and a 200-day moving average of $54.91. The stock has a market cap of $93.11 billion, a PE ratio of 20.736 and a beta of 1.17. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $60.45. Bristol-Myers Squibb also saw some unusual options trading on Thursday. Investors acquired 781 put options on the stock. This represents an increase of 117% compared to the typical volume of 360 put options.
Several hedge funds have recently modified their holdings of BMY. Blue Chip Partners Inc. raised its position in Bristol-Myers Squibb by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock worth $120,000 after buying an additional 15 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in Bristol-Myers Squibb by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 15 shares during the period. Keel Point LLC raised its position in Bristol-Myers Squibb by 0.3% in the first quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 18 shares during the period. Staley Capital Advisers Inc. raised its position in Bristol-Myers Squibb by 0.3% in the first quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock worth $379,000 after buying an additional 24 shares during the period. Finally, Shayne & CO. LLC raised its position in Bristol-Myers Squibb by 0.6% in the second quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 69.68% of the company’s stock.
In other news, Director Theodore R. Samuels II purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at $1,006,920. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 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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