Bristol-Myers Squibb Company (BMY) Expected to Post Quarterly Sales of $5.15 Billion
Brokerages forecast that Bristol-Myers Squibb Company (NYSE:BMY) will report $5.15 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Bristol-Myers Squibb’s earnings, with the highest sales estimate coming in at $5.19 billion and the lowest estimate coming in at $5.10 billion. Bristol-Myers Squibb reported sales of $4.92 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Bristol-Myers Squibb will report full-year sales of $5.15 billion for the current year, with estimates ranging from $20.30 billion to $20.69 billion. For the next financial year, analysts anticipate that the firm will post sales of $20.99 billion per share, with estimates ranging from $20.01 billion to $21.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Bristol-Myers Squibb.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $5.14 billion during 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 company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share.
Several equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $64.20 target price for the company. in a research note on Tuesday, August 22nd. Deutsche Bank AG set a $55.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, July 17th. Credit Suisse Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Wednesday, August 16th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.66.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 62.48 on Friday. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $63.47. The stock has a market capitalization of $102.46 billion, a PE ratio of 22.82 and a beta of 1.18. The stock has a 50 day moving average of $58.56 and a 200-day moving average of $55.95. Bristol-Myers Squibb also was the recipient of some unusual options trading activity on Thursday. Traders purchased 781 put options on the stock. This represents an increase of 117% compared to the average daily volume of 360 put options.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 6th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is currently 56.73%.
In other Bristol-Myers Squibb news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore R. Samuels II bought 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BMY. Tradewinds Capital Management LLC lifted its position in Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares during the last quarter. Atlantic Trust LLC acquired a new position in Bristol-Myers Squibb in the second quarter valued at about $111,000. Welch Investments LLC lifted its position in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Bristol-Myers Squibb in the first quarter valued at about $116,000. Finally, Blue Chip Partners Inc. lifted its position in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 17 shares during the last quarter. 68.80% of the stock is currently owned by institutional investors.
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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