Bristol-Myers Squibb Company (NYSE:BMY) – Investment analysts at SunTrust Banks lifted their FY2019 earnings estimates for Bristol-Myers Squibb in a report released on Monday. SunTrust Banks analyst J. Boris now expects that the biopharmaceutical company will post earnings per share of $4.28 for the year, up from their previous forecast of $3.64. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2020 earnings at $5.03 EPS and FY2021 earnings at $5.32 EPS.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the prior year, the business earned $0.77 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis.
Other equities research analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Vetr lowered shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $63.81 price objective for the company. in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Finally, UBS AG reissued a “buy” rating and issued a $72.00 price objective (up previously from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $64.93.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a $0.39 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.53%. Bristol-Myers Squibb’s payout ratio is currently 61.42%.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’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 directly owns 46,297 shares in the company, valued at approximately $2,777,820. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.
Several institutional investors have recently bought and sold shares of BMY. Renaissance Technologies LLC lifted its position in shares of Bristol-Myers Squibb by 108.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after buying an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Bristol-Myers Squibb by 185.2% in the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after buying an additional 3,960,191 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Bristol-Myers Squibb by 2,990.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after buying an additional 3,516,536 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Bristol-Myers Squibb by 42,071.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after buying an additional 3,323,649 shares during the last quarter. Finally, Parnassus Investments CA bought a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth about $172,098,000. Institutional investors own 68.93% of the company’s stock.
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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