Todays Report: The Bristol-Myers Squibb Co. (BMY) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

The Bristol-Myers Squibb Co. (BMY) Issues Quarterly  Earnings Results, Beats Estimates By $0.12 EPS

Bristol-Myers Squibb Co. (NYSE:BMY) released its earnings results on Thursday. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.12. Bristol-Myers Squibb had a return on equity of 29.52% and a net margin of 18.54%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Bristol-Myers Squibb updated its FY16 guidance to $2.80-2.90 EPS and its FY17 guidance to $2.85-3.05 EPS.

Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 51.00 on Monday. The firm has a market capitalization of $85.21 billion, a P/E ratio of 25.51 and a beta of 0.74. The company has a 50-day moving average price of $53.14 and a 200 day moving average price of $65.23. Bristol-Myers Squibb has a one year low of $49.03 and a one year high of $77.12.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a yield of 2.98%. Bristol-Myers Squibb’s dividend payout ratio is currently 74.51%.

In related news, Director Lamberto Andreotti sold 21,600 shares of the firm’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 completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the company. Williams Jones & Associates LLC raised its position in Bristol-Myers Squibb by 1.6% in the first quarter. Williams Jones & Associates LLC now owns 396,296 shares of the biopharmaceutical company’s stock worth $25,315,000 after buying an additional 6,125 shares in the last quarter. Baker Ellis Asset Management LLC raised its position in Bristol-Myers Squibb by 0.9% in the first quarter. Baker Ellis Asset Management LLC now owns 34,007 shares of the biopharmaceutical company’s stock worth $2,172,000 after buying an additional 300 shares in the last quarter. Hutchinson Capital Management CA raised its position in Bristol-Myers Squibb by 3.8% in the first quarter. Hutchinson Capital Management CA now owns 8,117 shares of the biopharmaceutical company’s stock worth $519,000 after buying an additional 300 shares in the last quarter. Columbia Partners L L C Investment Management raised its position in Bristol-Myers Squibb by 23.4% in the first quarter. Columbia Partners L L C Investment Management now owns 163,558 shares of the biopharmaceutical company’s stock worth $10,448,000 after buying an additional 31,056 shares in the last quarter. Finally, Botty Investors LLC raised its position in Bristol-Myers Squibb by 44.6% in the first quarter. Botty Investors LLC now owns 81,020 shares of the biopharmaceutical company’s stock worth $5,176,000 after buying an additional 25,000 shares in the last quarter. 72.87% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on the company. Leerink Swann reiterated an “outperform” rating and set a $69.00 target price on shares of Bristol-Myers Squibb in a research report on Sunday, October 9th. Zacks Investment Research lowered Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th. Morgan Stanley lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 price target on the stock. in a research note on Friday, August 5th. Jefferies Group reissued a “hold” rating and set a $57.00 price target (down previously from $69.00) on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Monday, September 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $68.36.

Bristol-Myers Squibb Company Profile

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