Bristol-Myers Squibb Co. (NYSE:BMY) – Research analysts at SunTrust Banks reduced their FY2017 earnings estimates for Bristol-Myers Squibb in a report issued on Monday. SunTrust Banks analyst J. Boris now expects that the firm will post earnings of $3.29 per share for the year, down from their previous forecast of $3.33. SunTrust Banks also issued estimates for Bristol-Myers Squibb’s FY2018 earnings at $4.32 EPS, FY2019 earnings at $5.33 EPS and FY2020 earnings at $6.18 EPS.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. During the same quarter in the previous year, the company earned $0.53 EPS. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. The business’s revenue for the quarter was up 17.2% on a year-over-year basis.
Other research analysts have also issued reports about the stock. Argus reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Friday, May 13th. Berenberg Bank reissued a “buy” rating and set a $80.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, April 22nd. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, April 5th. Leerink Swann reissued a “buy” rating on shares of Bristol-Myers Squibb in a research report on Wednesday, April 27th. Finally, TheStreet raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $74.65.
In related news, CEO Giovanni Caforio sold 34,594 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $71.31, for a total transaction of $2,466,898.14. Following the completion of the transaction, the chief executive officer now owns 132,263 shares of the company’s stock, valued at $9,431,674.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sandra Leung sold 72,544 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $70.39, for a total transaction of $5,106,372.16. Following the transaction, the executive vice president now directly owns 444,507 shares of the company’s stock, valued at approximately $31,288,847.73. The disclosure for this sale can be found here.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 1st will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.52 annualized dividend and a yield of 2.04%.
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company operates in BioPharmaceuticals segment. Its pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes (involving recombinant deoxyribonucleic acid (DNA) technology) called biologics.
