Bristol-Myers Squibb Company (NYSE:BMY) – Analysts at SunTrust Banks increased their FY2017 earnings per share (EPS) estimates for Bristol-Myers Squibb in a research note issued on Friday. SunTrust Banks analyst J. Boris now forecasts that the biopharmaceutical company will earn $3.03 per share for the year, up from their prior estimate of $3.00. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2018 earnings at $3.19 EPS, FY2019 earnings at $3.64 EPS, FY2020 earnings at $4.15 EPS and FY2021 earnings at $4.40 EPS.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the prior year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for Bristol-Myers Squibb Company Boosted by Analyst (BMY)” was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/11/01/fy2017-eps-estimates-for-bristol-myers-squibb-company-boosted-by-analyst-bmy.html.
Several other brokerages have also issued reports on BMY. Barclays PLC boosted their price target on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Jefferies Group LLC lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 target price on the stock. in a research report on Monday, October 16th. BMO Capital Markets set a $49.00 target price on Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Thursday, October 12th. Leerink Swann upped their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Finally, Citigroup Inc. upped their target price on Bristol-Myers Squibb to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $64.93.
Shares of Bristol-Myers Squibb (NYSE BMY) traded up 0.673% during mid-day trading on Monday, reaching $62.075. The company’s stock had a trading volume of 1,065,201 shares. The firm’s 50 day moving average is $63.47 and its 200 day moving average is $57.76. The firm has a market cap of $101.80 billion, a PE ratio of 22.672 and a beta of 1.19. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $66.10.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.53%. Bristol-Myers Squibb’s payout ratio is 61.42%.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the sale, the senior vice president now owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Bristol-Myers Squibb by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 118,661,690 shares of the biopharmaceutical company’s stock worth $6,611,829,000 after purchasing an additional 333,685 shares in the last quarter. BlackRock Inc. lifted its holdings in Bristol-Myers Squibb by 2.4% during the 2nd quarter. BlackRock Inc. now owns 99,454,602 shares of the biopharmaceutical company’s stock worth $5,541,612,000 after purchasing an additional 2,367,864 shares in the last quarter. State Street Corp lifted its holdings in Bristol-Myers Squibb by 1.8% during the 1st quarter. State Street Corp now owns 68,893,779 shares of the biopharmaceutical company’s stock worth $3,746,446,000 after purchasing an additional 1,223,457 shares in the last quarter. Dodge & Cox lifted its holdings in Bristol-Myers Squibb by 1.6% during the 2nd quarter. Dodge & Cox now owns 29,579,461 shares of the biopharmaceutical company’s stock worth $1,648,168,000 after purchasing an additional 459,271 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Bristol-Myers Squibb by 3.9% during the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after purchasing an additional 910,496 shares in the last quarter. 68.93% of the stock is currently owned by institutional investors and hedge funds.
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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