Leerink Swann Weighs in on Bristol-Myers Squibb Co.’s FY2017 Earnings (BMY)
Bristol-Myers Squibb Co. (NYSE:BMY) – Research analysts at Leerink Swann lowered their FY2017 EPS estimates for Bristol-Myers Squibb in a report released on Thursday. Leerink Swann analyst S. Fernandez now expects that the brokerage will post earnings of $3.01 per share for the year, down from their previous estimate of $3.17. Leerink Swann has a “Buy” rating and a $75.00 price objective on the stock.
Several other equities research analysts have also recently weighed in on BMY. Vetr upgraded shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price objective for the company in a research report on Monday, July 25th. Deutsche Bank AG restated a “hold” rating on shares of Bristol-Myers Squibb in a report on Wednesday, June 15th. BMO Capital Markets restated a “market perform” rating and issued a $60.00 price target on shares of Bristol-Myers Squibb in a report on Saturday, September 3rd. Zacks Investment Research cut shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, SunTrust Banks Inc. cut shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $86.00 to $68.00 in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $69.91.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 0.943% during midday trading on Friday, hitting $55.569. 8,621,270 shares of the stock were exchanged. The stock has a market capitalization of $92.85 billion, a price-to-earnings ratio of 32.496 and a beta of 0.74. The firm’s 50 day moving average is $56.51 and its 200-day moving average is $66.84. Bristol-Myers Squibb has a 1-year low of $53.56 and a 1-year high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. Bristol-Myers Squibb’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 87.36%.
In other news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the sale, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of BMY. WESPAC Advisors SoCal LLC boosted its position in shares of Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 75 shares in the last quarter. Jolley Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 80 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bristol-Myers Squibb during the second quarter valued at approximately $163,000. Solaris Asset Management LLC boosted its position in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 75 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. boosted its position in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 12 shares in the last quarter. 72.91% of the stock is owned by institutional investors.
Bristol-Myers Squibb Company Profile
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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