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Opinions Paul MacDonald
Bristol Myers SquibbBMYCOMMENTFeb 22, 2017
Paul MacDonaldStock price when the opinion was issued
As of Aug 28, 2026. Market Open.
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She hopes healthcare stocks rebound; they've been up this year and being beaten down for a long time. BMY is +19% this year. Trades below 10x PE and produce $11 billion free cash flow this year, $15 billion in 2027, pays over a 4% dividend. There's value here. With their cash flow, they can buy their way to growth.
EPS of $1.63 beat estimates of $1.52 and sales of $12.2B beat estimates of $11.8B. Sales grew 3%, and management raised its 2025 revenue guidance to a range of $47.5B to $48.0B. Its growth portfolio sales of newer/higher-growth drugs were up 18% year-over-year, while its legacy portfolio sales were down 12%. These were decent results, and the price action looks decent, we think there is possibility that the name can rebound eventually if its growth portfolio continues to outpace its legacy portfolio.
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EPS of $1.63 beat estimates of $1.52 and sales of $12.2B beat estimates of $11.8B. Sales grew 3%, and management raised its 2025 revenue guidance to a range of $47.5B to $48.0B. Its growth portfolio sales of newer/higher-growth drugs were up 18% year-over-year, while its legacy portfolio sales were down 12%. These were decent results, and the price action looks decent, we think there is possibility that the name can rebound eventually if its growth portfolio continues to outpace its legacy portfolio.
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EPS of $1.63 beat estimates of $1.52 and sales of $12.2B beat estimates of $11.8B. Sales grew 3%, and management raised its 2025 revenue guidance to a range of $47.5B to $48.0B. Its growth portfolio sales of newer/higher-growth drugs were up 18% year-over-year, while its legacy portfolio sales were down 12%. These were decent results, and the price action looks decent, we think there is possibility that the name can rebound eventually if its growth portfolio continues to outpace its legacy portfolio.
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EPS of $1.63 beat estimates of $1.52 and sales of $12.2B beat estimates of $11.8B. Sales grew 3%, and management raised its 2025 revenue guidance to a range of $47.5B to $48.0B. Its growth portfolio sales of newer/higher-growth drugs were up 18% year-over-year, while its legacy portfolio sales were down 12%. These were decent results, and the price action looks decent, we think there is possibility that the name can rebound eventually if its growth portfolio continues to outpace its legacy portfolio.
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They have huge oncology franchise, but face a huge patent cliff. But they have a some promising drugs. He owns this partly for the 5.6% dividend. He took shares off the table when the stock spiked earlier this year, but at current levels, he's watching the price go lower before buying again.
It's turned around in the last 6 months under the new CEO, rallying 40%. In the face of expiring drug patents, they launched a revolutionary schizophrenia drug. He also likes the rest of their pipeline to treat cardiovascular disease and oncology. He bought shares late last year.
They have a pipeline of drugs, but the clear driver is going to be its immuno oncology platform. When you look through to 2020, that is going to be about 55% of its revenues. They have their combo with Opdivo Oeuvre which is coming out later this year. Don’t be naïve to the risks that are associated here. Roche is coming in 2nd line lung cancer and are capturing market share. This will trade off of the other companies. He owns all 3.