Trading Report: The Bristol-Myers Squibb Co. (BMY) Updates FY17 Earnings Guidance

The Bristol-Myers Squibb Co. (BMY) Updates FY17 Earnings Guidance

Bristol-Myers Squibb Co. (NYSE:BMY) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $2.85-3.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.92. Bristol-Myers Squibb also updated its FY16 guidance to $2.80-2.90 EPS.

Shares of Bristol-Myers Squibb Co. (NYSE:BMY) opened at 51.00 on Monday. Bristol-Myers Squibb Co. has a 12 month low of $49.03 and a 12 month high of $77.12. The company’s 50 day moving average price is $53.14 and its 200 day moving average price is $65.23. The stock has a market capitalization of $85.21 billion, a PE ratio of 25.51 and a beta of 0.74.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.65 by $0.12. The business earned $4.83 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Bristol-Myers Squibb had a return on equity of 29.52% and a net margin of 18.54%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS. Equities analysts anticipate that Bristol-Myers Squibb Co. will post $2.79 earnings per share for the current fiscal year.

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 issued a $0.38 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.98%. Bristol-Myers Squibb’s dividend payout ratio is currently 74.51%.

Several analysts have recently commented on BMY shares. Goldman Sachs Group Inc. reissued a buy rating on shares of Bristol-Myers Squibb in a report on Wednesday, July 6th. Zacks Investment Research cut Bristol-Myers Squibb from a buy rating to a hold rating in a report on Monday, July 11th. Berenberg Bank reissued a buy rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Jefferies Group raised their price target on Bristol-Myers Squibb from $77.00 to $80.00 and gave the company a hold rating in a report on Thursday, July 14th. Finally, Vetr raised Bristol-Myers Squibb from a sell rating to a buy rating and set a $78.73 price target for the company in a report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $68.36.

In other news, Director Lamberto Andreotti sold 23,200 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $59.17, for a total value of $1,372,744.00. Following the completion of the sale, the director now owns 364,999 shares of the company’s stock, valued at $21,596,990.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by insiders.

Several large investors have recently modified their holdings of BMY. Calvert Investment Management Inc. increased its stake in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Calvert Investment Management Inc. now owns 101,041 shares of the biopharmaceutical company’s stock valued at $7,432,000 after buying an additional 3,356 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Bristol-Myers Squibb by 2.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,618,865 shares of the biopharmaceutical company’s stock valued at $339,718,000 after buying an additional 131,618 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Bristol-Myers Squibb by 1.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 383,594 shares of the biopharmaceutical company’s stock valued at $28,213,000 after buying an additional 3,867 shares during the period. Yellowstone Partners LLC boosted its position in Bristol-Myers Squibb by 27.1% in the second quarter. Yellowstone Partners LLC now owns 4,912 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 1,047 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its position in Bristol-Myers Squibb by 0.6% in the second quarter. Stonebridge Capital Advisors LLC now owns 22,728 shares of the biopharmaceutical company’s stock valued at $1,672,000 after buying an additional 127 shares during the period. 72.87% of the stock is owned by institutional investors.

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