Bristol-Myers Squibb Co.

In the fourth quarter of 2019, Tesla was Renaissance Technologies’ second-largest holding. Renaissance is one of the largest hedge funds in the US.

At the end of the third quarter, Bristol-Myers Squibb, Celgene, Biogen, UnitedHealth, and Walmart (WMT) were Renaissance Technologies’ top five buys.

Since my last article about Bristol-Myers Squibb (BMY), the stock has risen from $50.22 to $57.96. Should you buy BMY on today’s Q3 earnings beat?

The S&P 500 Index, which is trading close to an all-time high, could be affected by the Fed’s tone in its upcoming meeting.

Renaissance Technologies had a strong investment in the healthcare sector in Q2 2019. The healthcare sector makes up 18.16% of the firm’s total portfolio.

Is Bristol-Myers Squibb stock undervalued, and could it surge higher anytime soon? Find out why further upside is possible for BMY.

On August 26, Amgen (AMGN) announced the purchase of leading immunology drug Otezla from Celgene (CELG) for a cash consideration of $13.4 billion.

Bristol-Myers Squibb will release its second-quarter earnings on Thursday. The revenues will likely rise 7.16% YoY to $6.11 billion in the second quarter.

In the latest update on the pending merger with Celgene (CELG), Bristol-Myers Squibb (BMY) proposed plans to divest Otezla—Celgene’s top-selling non-biologic psoriasis drug.

Revenue for Bristol-Myers Squibb’s (BMY) Opdivo has grown by a double-digit percentage YoY (year-over-year) since 2016.

Pfizer’s (PFE) commercialized JAK (Janus kinase) inhibitor, Xeljanz, is approved for treating rheumatoid arthritis, psoriatic arthritis, and ulcerative colitis.

Pfizer (PFE) has guided for fiscal 2019 adjusted costs of sales as a percentage of revenue of 20.8%–21.8%, and adjusted selling, informational, and administrative expenses of $13.5 billion–$14.5 billion.

In fiscal 2019, Pfizer (PFE) expects its adjusted diluted EPS to fall 4.0% YoY (year-over-year) to $2.83–$2.93.

Pfizer (PFE) has guided for its revenue falling 1.2% YoY (year-over-year) to $52.0 billion–$54.0 billion in fiscal 2019, whereas analysts expect the company’s revenue to fall 0.55% to $53.35 billion.

This year, Pfizer (PFE) stock has fallen 0.34% and Bristol-Myers Squibb (BMY) stock has fallen 6.48%. Both companies are focused on strengthening their position in the high-growth oncology and immunology markets. Let’s take a closer look at each.

Bristol-Myers Squibb’s (BMY) acquisition of Celgene (CELG) is expected to make the combined company a top-five player in the I&I (immunology and inflammation) space.

Bristol-Myers Squibb’s (BMY) acquisition of Celgene (CELG) is expected to result in a dominant player in IO (immuno-oncology), solid tumors, and hematology segments.

Bristol-Myers Squibb (BMY) highlighted the possibility of six new-term product launches after the completion of the acquisition of Celgene (CELG).

Bristol-Myers Squibb (BMY) estimated the value of currently marketed products of the combined company after completion of the acquisition of Celgene (CELG) to be $55 billion.

Bristol-Myers Squibb has guided for more than $45 billion of free cash flow in the first three years after completion of the deal.

Bristol-Myers Squibb (BMY) issued a press release announcing shareholder approval of its proposed acquisition of Celgene in April.

Analysts expect Bristol-Myers Squibb’s non-GAAP EPS to rise 5.27% YoY (year-over-year) to $4.19 in 2019.

Gross margin forecasts In its first-quarter earnings press release, Bristol-Myers Squibb (BMY) revised its GAAP (generally accepted accounting principles) and non-GAAP gross margin guidance for 2019 downward from 70%–71% to 70%. Analysts expect Bristol-Myers Squibb’s adjusted gross margin to contract 77 basis points YoY (year-over-year) to 70.21% in 2019, to contract eight basis points YoY […]

In its first-quarter earnings press release, Bristol-Myers Squibb (BMY) reiterated its mid-single-digit YoY (year-over-year) worldwide revenue growth expectation for 2019.

Bristol-Myers Squibb (BMY) announced its first-quarter earnings results before the market opened on April 25.

Starboard Value has decided to give up the proxy war to stop Bristol-Myers Squibb’s deal with Celgene.

Since fiscal 2018, Novartis (NVS) has been focused on transforming itself into a new focused medicines company.

In fiscal 2018, Novartis (NVS) and Bristol-Myers Squibb (BMY) reported an annual dividend per share of $2.85 and $1.60, respectively.

In its fourth-quarter earnings investor presentation, Novartis (NVS) provided operating income guidance for two scenarios.

According to the company’s fourth-quarter earnings conference call, Novartis expects to complete the spin-off of its Alcon business in the second quarter of 2019.

On February 25, Roche Holdings (RHHBY) issued a press release announcing that it has entered a definitive agreement to acquire Spark Therapeutics (ONCE).

Of the 15 analysts covering Merck, six recommend a “strong buy,” seven recommend a “buy,” and two recommend a “hold.”

In fiscal 2018, Bristol-Myers Squibb (BMY) reported revenues of $22.56 billion—a rise of 8.59% YoY (year-over-year).

On January 25, Bristol-Myers Squibb (BMY) closed at $48.93, which is 0.18% lower than its previous closing price.

On January 24, in Bristol-Myers Squibb’s fourth-quarter earnings release, the company announced fiscal 2018 revenues of $22.56 billion.

Bristol-Myers Squibb’s (BMY) acquisition of Celgene (CELG) will add the latter’s blockbuster multiple myeloma (or MM) drugs, Revlimid and Pomalyst, to the company’s portfolio.

Bristol-Myers Squibb (BMY) will target four major therapeutic areas after completing the acquisition of Celgene (CELG).

According to Bristol-Myers Squibb’s (BMY) investor presentation, the company expects to create a leading oncology franchise across both solid tumor and hematologic malignancy segments.

According to Bristol-Myers Squibb’s (BMY) press release, the company expects the acquisition of Celgene (CELG) to result in annual cost synergies close to $2.5 billion.

Bristol-Myers Squibb (BMY) expects to report GAAP EPS in the range of $3.05 to $3.15 and non-GAAP EPS in the range of $3.80 to $3.90 for fiscal 2018.

In its third-quarter earnings conference call, Bristol-Myers Squibb (BMY) has forecasted high-single-digit YoY revenue growth for fiscal 2018.

The acquisition of Celgene (CELG) by Bristol-Myers Squibb (BMY) brings together both the company’s leading franchises.

Bristol-Myers Squibb has agreed to acquire Celgene in a cash and stock transaction valued at around $74.0 billion.

Today, Bristol-Myers Squibb (BMY) is trading at $45.85, ~11.86% lower than its previous day’s closing price.

In the first nine months of this year, Pfizer’s (PFE) Xtandi alliance revenue grew ~21% YoY (year-over-year) to $510.0 million.

Pfizer’s net revenues were $39.7 billion in the first nine months of 2018—compared to $38.8 billion during the same period in 2017.

Bristol-Myers Squibb’s (BMY) Opdivo reported total revenues of $1.79 billion in the third quarter, which is a rise of 42% YoY.

Bristol-Myers Squibb expects the contribution of lung cancer indication to Opdivo’s US market revenues to be close to 35%.

Analysts expect Bristol-Myers Squibb to report revenues of $22.56 billion in fiscal 2018, which will be a rise of 8.58% YoY.

Pfizer’s (PFE) stock price opened at $36.23 on January 2 and reached $43.51 on November 16, which represents ~20.0% growth YTD.

In November, six analysts recommended a “strong buy,” ten recommended a “buy,” and 12 recommended a “hold” for Gilead Sciences.

Gilead Sciences’ HIV product sales in the United States increased from $2.52 billion in the third quarter of 2017 to $3.0 billion in the third quarter.

Gilead Sciences’ (GILD) interest expense decreased from $291.0 million in the third quarter of 2017 to $264.0 million in the third quarter.

Merck & Co.’s (MRK) Zepatier reported revenues of $104 million in the third quarter compared to $468 million in the third quarter of 2017.

On October 25, Merck (MRK) announced a dividend of $0.55 per share for its outstanding common stock in the fourth quarter of 2018.

The sales of Bristol-Myers Squibb’s Baraclude fell from $264.0 million in the third quarter of 2017 to $175.0 million in the third quarter of 2018.

Analysts are expecting GlaxoSmithKline’s revenues to increase 2.3% to 8.02 billion pounds for the third quarter of 2018.

Bristol-Myers Squibb (BMY) reported its third quarter of fiscal 2018 results on October 25. Its total revenues increased to $5.69 billion.

Allergan (AGN) is set to release its Q3 2018 earnings on October 30. Analysts estimate EPS of $4.03 on revenues of $3.88 billion.

Johnson & Johnson’s (JNJ) oncology business generated revenue of $2.6 billion in the third quarter.

On October 18, Johnson & Johnson announced a fourth-quarter cash dividend of $0.90 per share for its common stock.

Analysts expect Pfizer’s (PFE) revenues to be ~$13.5 billion in the third quarter—which is ~2.8% growth compared to the third quarter of 2017.

Pfizer’s dividend yield is 3.15%. The company’s historical dividend yield was 3.53% in 2017, while the five-year average yield is 3.44%.

In September, Alexion Pharmaceuticals agreed to acquire Syntimmune, a clinical stage biotechnology company.

In 4Q17, Amgen’s (AMGN) Repatha generated revenues of $98 million, which reflected a 69% growth YoY (year-over-year) and a 10% growth quarter-over-quarter.

In Q2 2018, Merck’s (MRK) Keytruda generated revenues of $1.67 billion compared to $881.0 million in Q2 2017, reflecting ~89% YoY growth.

Alcon reported revenue of ~$1.82 billion in the second quarter, a 7% rise.

In October, 18 analysts gave Gilead Sciences stock a “buy” or higher rating, while ten analysts gave the stock a “hold” rating.

For Gilead Sciences (GILD), falling revenues and recent gains in the stock price have kept investors interested in the stock.

Seattle Genetics (SGEN) incurred a cost of sales of $13.16 million in the second quarter—compared to $8.06 million in the second quarter of 2017.

Seattle Genetics (SGEN) is focused on maximizing Adcetris’ market reach. Currently, the product is sold in 71 countries.

Seattle Genetics acquired clinical-stage biopharmaceutical company Cascadian in March for $614.1 million at $10.0 per share.

Nineteen analysts currently track Pfizer stock. The consensus rating for Pfizer stands at 2.63, which represents a “hold.”

The Healthcare Select Sector SPDR ETF’s (XLV) price has increased ~14.6% in the third quarter, and its year-to-date returns increased ~15.5% on October 2.

Eli Lilly and Company’s (LLY) Human Pharmaceutical segment includes cardiovascular products such as Cialis, Effient, and other products.

Eli Lilly’s dividend yield is 2.11%. Its dividend yield last year was 2.46%, and its five-year average is 2.77%.

Eli Lilly stock reported a ~0.6% rise to close at $106.31 on September 26 compared to the previous day’s close.

Of the seven analysts covering Verastem (VSTM) in September, two have given the stock a “strong buy” rating, and five have given it a “buy.”

The total number of Pfizer’s outstanding shares is ~5.862 billion. Of these, its free-floating shares total ~5.859 billion.

Pfizer reported a rise in revenue in international markets in the second quarter, though this growth was offset by lower sales in US markets.

On September 14, Allergan (AGN) announced the acquisition of Bonti Inc., a clinical-stage biotechnology company.

Sage Therapeutics’ (SAGE) product portfolio includes products under development for the treatment of various rare and life-threatening central nervous system disorders.

Merck’s (MRK) Keytruda has witnessed ~89% YoY (year-over-year) growth and generated second-quarter revenues of $1.7 billion.

uniQure (QURE) is advancing a pipeline of gene therapies that are developed internally and externally. It has a collaboration with Bristol-Myers Squibb (BMY).

Pfizer (PFE) and Merck announced in a press release today positive top-line results for their JAVELIN Renal 101 study, which evaluated a combination of Bavencio (avelumab) and Inlyta (axitinib).

Alcon, the eyecare business of Novartis (NVS), includes surgical products and vision care products. It announced today that it will locate its future headquarters in Geneva after spinning off from Novartis.

In a press release on September 5, Pfizer announced that the FDA had granted a breakthrough therapy designation to its drug PF-06651600.

Of the 18 analysts covering Zoetis (ZTS) in September, 11 analysts gave Zoetis stock a “buy,” or higher rating, and seven analysts gave it a “hold” rating.

Eli Lilly and Company’s (LLY) Human Pharmaceutical segment includes neuroscience products such as Cymbalta, Strattera, and Zyprexa.

Eli Lilly and Company’s (LLY) Human Pharmaceutical segment includes oncology products such as Alimta, Cyramza, Erbitux, Lartruvo, and Verzenio.

Of the 21 analysts tracking Pfizer (PFE) on August 29, one recommended a “strong buy,” nine gave it a “buy,” and eight recommended a “hold.”

On August 29, Alcon announced that it had voluntarily withdrawn the CyPass Micro-Stent on a global basis, effective immediately.

Today, Amgen (AMGN) announced EC approval of Blincyto for pediatric patients with Philadelphia chromosome-negative CD19 positive refractory.

Sandoz, Novartis’s generic pharmaceuticals business, reported nearly flat revenues at ~$2.46 billion in Q2 2018.

In June, the FDA approved Avastin in combination with chemotherapy followed by Avastin monotherapy.

Roche’s (RHHBY) Tarceva generated revenues of 298.0 million Swiss francs in H1 2018 compared to 436.0 million Swiss francs in H1 2017.

Xtandi is a prescription drug that treats prostate cancer. Xtandi patients aren’t responding to the medical or surgical therapies that lower testosterone.

In July, Nektar Therapeutics’ (NKTR) new drug application (or NDA) for NKTR-181 was accepted for filing by the FDA.

GlaxoSmithKline’s (GSK) Vaccines segment includes its influenza, meningitis, shingles, and established vaccines.