Bristol-Myers Squibb buying Celgene in $74 billion deal
Jan 06 2019
More interesting news about Bristol-Myers Squibb Company (NYSE:BMY) were released by: Seekingalpha.com and their article: "Premarket analyst action - healthcare - Seeking Alpha" published on August 08, 2018 as well as Seekingalpha.com's news article titled: "BMS Is A Buy On The Dip - Seeking Alpha" with publication date: October 30, 2018. Tudor Inv Et Al has invested 0.22% of its capital in Bristol-Myers Squibb Company (NYSE:BMY). Wealth Architects LLC now owns 6,923 shares of the biopharmaceutical company's stock worth $430,000 after purchasing an additional 848 shares during the last quarter. It also reduced its holding in Broadcom Inc by 134,466 shares in the quarter, leaving it with 100,826 shares, and cut its stake in Zimmer Biomet Hldgs Inc (ZMH). Finally, LFA Lugano Financial Advisors SA increased its position in shares of Bristol-Myers Squibb by 85.8% during the third quarter. Panagora Asset Management Inc. now owns 3,355,228 shares of the biopharmaceutical company's stock valued at $208,293,000 after acquiring an additional 2,281,987 shares during the period. Institutional investors and hedge funds own 72.78% of the company's stock. Clinical and regulatory failures forced Celgene's shares down almost 40 percent during the course of 2018. Already, news of the deal has spurred stock market movements for a number of companies, lifting Gilead Sciences and Biogen while sending Merck & Co. shares lower.
"We will also benefit from an expanded early- and late-stage pipeline that includes six expected near-term product launches", Giovanni Caforio, chairman and CEO of Bristol, says in the statement. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41. The company has a market cap of $84.84 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.97. Meyer Handelman Company invested 1.98% in Bristol-Myers Squibb Company (NYSE:BMY). The institutional investor held 1.50M shares of the major pharmaceuticals company at the end of 2018Q3, valued at $93.27 million, up from 1.34 million at the end of the previous reported quarter. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%.
Bristol-Myers' proposed acquisition of Celgene would rank among the industry's largest ever, surpassing Takeda's recent $62 billion bid for Shire. Shareholders of record on Friday, January 4th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.13%. Fagan Assocs stated it has 0.1% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY). Bristol-Myers Squibb's dividend payout ratio (DPR) is now 53.16%. Guggenheim maintained the shares of BMY in report on Tuesday, November 27 with "Hold" rating. Zacks Investment Research lowered Bristol-Myers Squibb from a "buy" rating to a "hold" rating in a research note on Monday, October 1st. Bristol-Myers Squibb now has a consensus rating of "Hold" and a consensus target price of $61.56. The firm owned 4,029 shares of the biopharmaceutical company's stock after selling 12,554 shares during the quarter. If you are viewing this news story on another website, it was illegally copied and republished in violation of United States & global trademark & copyright laws.
The companies said that combining their portfolios creates "leading oncology franchises" in solid tumors and hematology-oncology, particularly due to the aforementioned Opdivo and Revlimid, along with BMS's CTLA4 inhibitor Yervoy (ipilimumab) and Celgene's IMiD Pomalyst (pomalidomide).