Bristol-Myers Squibb (NYSE:BMY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Bristol-Myers’ blockbuster drug Opdivo is facing competitive challenges in the United States. With the FDA approving Merck’s Keytruda, for the first-line treatment of metastatic non-squamous NSCLC, the competition will stiffen up. Pricing concerns, stiff competition in the HCV and immuno-oncology space are expected to remain a significant overhang on the company’s shares. Yervoy’s sales are expected to be under pressure due to adoption of Opdivo in adjuvant melanoma. Gross margin is also expected to be under pressure due to product mix and declines in virology business. Shares of the company have underperformed the industry in the last twelve months. Estimates have remained stable ahead of Q4 earnings. The company has a mixed record of earnings surprises in the recent quarters.”
A number of other brokerages have also weighed in on BMY. Credit Suisse Group reiterated a “hold” rating and set a $61.00 target price (up previously from $58.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Piper Jaffray Companies reiterated a “hold” rating and set a $60.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 27th. Leerink Swann increased their target price on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Vetr lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 target price for the company. in a research report on Thursday, September 28th. Finally, BMO Capital Markets set a $49.00 target price on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.11.
Bristol-Myers Squibb (BMY) opened at $62.28 on Friday. The firm has a market cap of $101,930.00, a PE ratio of 24.52, a P/E/G ratio of 2.14 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47. Bristol-Myers Squibb has a 1 year low of $46.01 and a 1 year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. Bristol-Myers Squibb’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. equities analysts forecast that Bristol-Myers Squibb will post 2.99 EPS for the current year.
In other news, Director Theodore R. Samuels II acquired 4,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the transaction, the director now owns 22,000 shares of the company’s stock, valued at $1,370,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas J. Jr. Lynch sold 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $63.24, for a total transaction of $335,172.00. Following the completion of the transaction, the executive vice president now owns 9,251 shares of the company’s stock, valued at $585,033.24. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in BMY. Wealth Enhancement Advisory Services LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter valued at approximately $458,000. Naples Global Advisors LLC raised its stake in Bristol-Myers Squibb by 6.3% in the fourth quarter. Naples Global Advisors LLC now owns 17,668 shares of the biopharmaceutical company’s stock valued at $1,083,000 after purchasing an additional 1,049 shares in the last quarter. Hollencrest Capital Management raised its stake in Bristol-Myers Squibb by 19.9% in the fourth quarter. Hollencrest Capital Management now owns 9,053 shares of the biopharmaceutical company’s stock valued at $555,000 after purchasing an additional 1,500 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Bristol-Myers Squibb by 1,205.4% in the fourth quarter. State of Alaska Department of Revenue now owns 159,645 shares of the biopharmaceutical company’s stock valued at $9,780,000 after purchasing an additional 147,415 shares in the last quarter. Finally, Charter Trust Co. raised its stake in Bristol-Myers Squibb by 4.6% in the fourth quarter. Charter Trust Co. now owns 38,411 shares of the biopharmaceutical company’s stock valued at $2,354,000 after purchasing an additional 1,690 shares in the last quarter. Institutional investors own 69.74% of the company’s stock.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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