The Leerink Swann Weighs in on Bristol-Myers Squibb Co.’s FY2017 Earnings (BMY)

The Leerink Swann Weighs in on Bristol-Myers Squibb Co.’s FY2017 Earnings (BMY)

Bristol-Myers Squibb Co. (NYSE:BMY) – Investment analysts at Leerink Swann lowered their FY2017 earnings estimates for Bristol-Myers Squibb in a research note issued on Thursday. Leerink Swann analyst S. Fernandez now anticipates that the firm 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 target on the stock.

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 Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS.

A number of other analysts also recently weighed in on BMY. Vetr upgraded Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 price target on the stock in a research note on Monday, July 25th. Deutsche Bank AG restated a “hold” rating on shares of Bristol-Myers Squibb in a research note 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 research note on Saturday, September 3rd. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Finally, SunTrust Banks Inc. downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $86.00 to $68.00 in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Bristol-Myers Squibb currently has an average rating of “Hold” and a consensus price target of $69.91.

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Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 0.943% during mid-day trading on Friday, reaching $55.569. The company’s stock had a trading volume of 8,621,270 shares. The firm has a market capitalization of $92.85 billion, a P/E ratio of 32.496 and a beta of 0.74. The company’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.

Several large investors have recently modified their holdings of BMY. FirstMerit Bank N A Trustee increased its stake in shares of Bristol-Myers Squibb by 1.6% in the first quarter. FirstMerit Bank N A Trustee now owns 227,573 shares of the biopharmaceutical company’s stock valued at $14,537,000 after buying an additional 3,517 shares during the last quarter. Wendell David Associates Inc. increased its stake in shares of Bristol-Myers Squibb by 12.8% in the first quarter. Wendell David Associates Inc. now owns 17,609 shares of the biopharmaceutical company’s stock valued at $1,127,000 after buying an additional 2,000 shares during the last quarter. Regent Investment Management LLC increased its stake in shares of Bristol-Myers Squibb by 4.0% in the first quarter. Regent Investment Management LLC now owns 23,535 shares of the biopharmaceutical company’s stock valued at $1,504,000 after buying an additional 900 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in shares of Bristol-Myers Squibb by 2.2% in the first quarter. Carroll Financial Associates Inc. now owns 14,528 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 316 shares during the last quarter. Finally, City Holding Co. increased its stake in shares of Bristol-Myers Squibb by 1.1% in the first quarter. City Holding Co. now owns 20,526 shares of the biopharmaceutical company’s stock valued at $1,311,000 after buying an additional 225 shares during the last quarter. 72.91% of the stock is owned by institutional investors.

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.

The business also recently announced 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 payout ratio is 87.36%.

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