|Bid||45.48 x 3200|
|Ask||45.60 x 4000|
|Day's Range||45.03 - 46.13|
|52 Week Range||44.30 - 63.69|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||15.12|
|Forward Dividend & Yield||1.64 (3.44%)|
|1y Target Est||N/A|
Jeff Smith, Starboard Value CEO, sits down with CNBC's David Faber for an exclusive interview at the 13D Monitor Active-Passive Investor Summit.
Celgene brings to Bristol-Myers five late-stage products that could be approved in the near term, Caforio said.
Celgene brings to Bristol-Myers five late-stage products that could be approved in the near term, Caforio said.
"Halftime Report" trader Jon Najarian spots unusual options activity in shares of Encana and Bristol-Myers. Plus, a trade update on FedEx.
Bristol-Myers (BMY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Moody's Investors Service ("Moody's") assigned an A2 rating to Bristol-Myers Squibb Company's ("Bristol") proposed new senior unsecured exchange note offering. The rating is under review for downgrade. There are no changes to Bristol's existing ratings including the A2 senior unsecured long-term rating or the Prime-1 short-term rating, and these ratings remain under review for downgrade.
Looking at Bristol-Myers Squibb Company's (NYSE:BMY) earnings update in December 2018, analyst consensus outlook appear cautiously optimistic, with earnings expected to grow by...
Bill Nygren (Trades, Portfolio), portfolio manager of the Oakmark Fund, started two positions and exited five in the first quarter, he said ahead of Securities and Exchange Commission deadlines for portfolio disclosure. Warning! GuruFocus has detected 3 Warning Sign with STZ. In a first-quarter letter released last week, Nygren discussed purchases of Constellation Brands (STZ) and S&P Global Inc. (SPGI).
In the latest trading session, Bristol-Myers Squibb (BMY) closed at $46.02, marking a -1.03% move from the previous day.
The fat lady is getting ready to sing with this big pharma deal. Celgene shareholders will soon have a decision to make.
According to GuruFocus' list of 52-week lows, these guru stocks have reached their 52-week lows. The price of UnitedHealth Group Inc. (UNH) shares has declined to close to the 52-week low of $223.22, which is 23.3% off the 52-week high of $287.94. The company has a market cap of $214.19 billion.
Clovis Oncology (CLVS) halts mid-stage bladder cancer study evaluating Rubraca monotherapy. It is unlikely to provide meaningful clinical benefit as reviewed by an independent data monitoring committee.
Bristol-Myers Squibb Company (BMY), Annaly Capital Management Inc. (NLY), Newell Brands Inc. (NWL) and Mylan NV (MYL) have declined to their three-year lows. Bristol-Myers Squibb Company is an American international pharmaceutical company that manufactures prescription pharmaceuticals in various therapeutic areas including cancer, cardiovascular diseases, diabetes, hepatitis, and HIV. The trailing 12-month dividend yield of Bristol-Myers Squibb Company stocks is 3.53%.
"When the two companies come together, we'll have two growing businesses," Caforio said in an interview with "Mad Money's" Jim Cramer. It's going to be a great company, [will] create value for shareholders, [and will be] very good for patients," he said. "I'm focused and we're focused on creating value for the long term and we're getting to work on the integration ... I believe the value of the new company will be demonstrated rapidly," he says.
By Michael Erman and Svea Herbst-Bayliss NEW YORK (Reuters) - Bristol-Myers Squibb Co's shareholders voted to approve the drugmaker's $74 billion (56.6 billion pounds) acquisition of biotech Celgene Corp ...
More than 75% of Bristol-Myers shareholders voted to approve the deal, according to a preliminary tally announced by Bristol-Myers on Friday. Bristol-Myers' position took a positive turn in late March after an influential shareholder advisory group recommended investors vote in favor of the cancer drug specialist's takeover, and a key activist dropped its opposition to the deal. Institutional Shareholder Services recommended the deal, which had been challenged by key Bristol-Myers shareholders Starboard Value and Wellington Management, ahead of Friday's vote.
Glaxo (GSK) gets FDA approval for a new HIV medicine, Dovato. AstraZeneca (AZN)/Merck's (MRK) Lynparza gets approval in EU for metastatic breast cancer.
Celgene shareholders also gave their support for the deal, which is expected to close in the third quarter but awaits US regulatory approval. “Together with Celgene, we will create a premier innovative biopharma company with leading scientific capabilities that is well positioned to address the needs of patients through high-value innovative medicines,” Bristol-Myers chairman and chief executive Giovanni Caforio said in a statement.
While gurus hold positions in these companies, the share price and returns continue to fall. The company, which produces crude oil and natural gas, has a $75.32 billion market cap. The share price of $66 is 17.06% below its 52-week high and 17.27% above its 52-week low.
Seattle Genetics (SEGN) focuses on improving sales of its flagship product, Adcetris. The drug's label expansion programs also appear encouraging.
The mega-merger between Bristol-Myers Squibb (NYSE:BMY) and Celgene (NASDAQ:CELG) appears to be drawing closer to fruition. Despite staunch opposition from various hedge funds such as Starboard Value, the deal still looks like it has good odds of being a success. However, BMY stock has hardly responded to the news.Source: A 4 via Flickr It remains down in the dumps, near 52-week lows, even as the market as a whole had a phenomenal first quarter. Is it time to buy BMY stock ahead of the merger, or is the market on to something? Don't Count Chickens Yet: Will the Deal Close?Before looking at the combined company, it's important to remember that the merger hasn't closed yet. Until last Friday, in fact, the market seemed fairly skeptical that shareholders would approve the proposed merger. Last week, CELG stock was trading at around a 10% discount to its value in the event that Bristol-Myers Squibb successfully closed the deal.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn Friday, however, Institutional Shareholder Services "ISS" announced that it supported the deal. The ISS is an important body because many passive funds, such as ETFs, usually vote in accordance with ISS recommendations.That said, the deal still isn't a sure thing, as both Celgene and BMY stock owners vote later in April. As of this writing, the market is pricing about a 4% deal discount, suggesting that there is a relatively low, but not zero, chance of the deal breaking down. If you are buying either stock today, CELG stock might be more attractive given the modest discount, though keep potential tax considerations in mind. Bristol-Myers Squibb & Celgene TogetherNow, let's assume the deal closes. What does Bristol-Myers Squibb get for its purchase? For one thing, huge cost savings. It's expensive having your own sales and marketing team, along with other costs of being a large independent pharma company.Bristol-Myers estimates that it can save $2.5 billion per year once the two companies are combined. That's a huge sum, amounting to nearly 5% of Celgene's current market cap in annual cost reductions. This is a case where Celgene is worth much more to its acquirer than it was as a standalone firm.It's also important to note that Bristol-Myers offered to purchase Celgene after CELG stock had tanked. Since 2015, CELG stock had almost continuously traded above the $100 per share mark, and reached as high as $140 in 2017. It fell to $60 in late 2018, allowing Bristol-Myers to swoop in and buy the company around $90/share. That's still a big discount to where it had been historically, while giving a healthy premium to the late 2018 share price.Joining forces with Celgene accomplishes a lot strategically for Bristol-Myers. Perhaps most importantly, it broadens the company's oncology drug portfolio. As Bristol-Myers has a lot of late stage cancer trials under way, bringing Celgene into the fold lowers risk for the overall firm as its oncology portfolio will still be well-stocked even if some of its trials come up short. BMY Stock: The Price Is RightBristol-Myers got walloped during last fall's correction. BMY stock fell 20% in a few weeks. And it's hardly recovered since then, as investors remain nervous ahead of the Celgene merger. With Bristol-Myer's market cap at $77 billion and Celgene at $61 billion, this is almost a merger of equals and will overhaul the company's outlook going forward.That said, there are good reasons for optimism. As it is, Brisol-Myers is currently selling for less than 15x trailing earnings. Celgene is selling at under 10x forward earnings. Combine them, and hack off several billion in redundant costs, and you have a profit dynamo.Analysts, as a consensus, see the merged company trading at around 11x earnings, with earnings then growing at 8% per year over the next five years. Some analysts, however, suggest earnings will grow at a double-digit rate going forward, which would make BMY stock a huge winner starting off its cheap valuation now. Also, it's worth noting that BMY currently offers a 3.5% dividend yield. That's one of the better income sources you'll get from the pharma/biotech space. BMY Stock VerdictBristol-Myers Squibb stock isn't the easiest one in the world to buy right now. I can understand why BMY has been trading weakly in 2019. There's a great deal of uncertainty around the company's merger with Celgene. And its own pre-existing oncology pipeline has some concerns of its own.On top of that, you have rising political risk. President Trump has returned his focus to the pharma, suggesting that Republicans will be the "Party of Healthcare" going forward. He appears open to efforts that would lower drug prices. On the other side of the aisle, Democratic frontrunner Bernie Sanders wants to slash pharmaceutical prices by up to 50%.You're going to get a lot of troubling chatter and news headlines as the election cycle develops as it relates to BMY.Look past all the uncertainty, however, and BMY stock looks like a clear value here. The company was already highly profitable, and is snapping up Celgene at a great valuation.Once you cut redundant costs between the two firms here, there should be a great deal of upside in the combined company. The bull thesis for BMY stock could take awhile to play out, but shares should be trading nicely higher in a year or two.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Best Dividend Stocks to Buy for Every Investor * 7 Catalysts That Will Send Marijuana Stocks Soaring in 2019 * 8 Risky Stocks to Watch as Earnings Season Kicks Off Compare Brokers The post BMY Stock Looks Really Appetizing as the Celgene Merger Approaches appeared first on InvestorPlace.