Bristol-Myers Squibb (BMY) Downgraded to “Hold” at UBS

Bristol-Myers Squibb (NYSE:BMY) was downgraded by stock analysts at UBS to a “hold” rating in a research note issued to investors on Monday, www.tipranks.com reports. They currently have a $57.00 price objective on the biopharmaceutical company’s stock. UBS’s price objective would indicate a potential upside of 8.14% from the company’s previous close.

BMY has been the topic of a number of other reports. BMO Capital Markets reduced their price objective on shares of Bristol-Myers Squibb from $51.00 to $47.00 and set an “underperform” rating on the stock in a report on Wednesday, April 18th. Vetr lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 price target on the stock. in a research note on Monday, January 22nd. Credit Suisse Group set a $58.00 price target on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Thursday, April 26th. Zacks Investment Research lowered shares of Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Finally, TheStreet lowered shares of Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research note on Thursday, March 8th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $62.84.

Shares of Bristol-Myers Squibb opened at $52.71 on Monday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.52 and a quick ratio of 1.39. Bristol-Myers Squibb has a 52 week low of $49.96 and a 52 week high of $70.05. The company has a market capitalization of $86.16 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.32 and a beta of 0.99.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 26th. The biopharmaceutical company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.09. Bristol-Myers Squibb had a net margin of 4.37% and a return on equity of 37.56%. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same period last year, the business earned $0.84 EPS. The company’s revenue was up 5.4% on a year-over-year basis. equities analysts forecast that Bristol-Myers Squibb will post 3.41 EPS for the current fiscal year.

In related news, Director Dinesh C. Paliwal acquired 4,770 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were purchased at an average price of $52.40 per share, with a total value of $249,948.00. Following the completion of the acquisition, the director now owns 8,027 shares in the company, valued at $420,614.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BMY. BlackRock Inc. lifted its holdings in shares of Bristol-Myers Squibb by 5.0% in the fourth quarter. BlackRock Inc. now owns 104,293,294 shares of the biopharmaceutical company’s stock valued at $6,391,093,000 after purchasing an additional 4,945,515 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Bristol-Myers Squibb by 31.9% in the fourth quarter. Renaissance Technologies LLC now owns 14,302,900 shares of the biopharmaceutical company’s stock valued at $876,482,000 after purchasing an additional 3,456,300 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 30.8% in the fourth quarter. TIAA CREF Investment Management LLC now owns 10,932,722 shares of the biopharmaceutical company’s stock valued at $669,957,000 after purchasing an additional 2,573,967 shares in the last quarter. Orbis Allan Gray Ltd lifted its holdings in shares of Bristol-Myers Squibb by 31.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 6,901,670 shares of the biopharmaceutical company’s stock valued at $422,935,000 after purchasing an additional 1,635,666 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Bristol-Myers Squibb by 109.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,797,167 shares of the biopharmaceutical company’s stock valued at $171,409,000 after purchasing an additional 1,458,723 shares in the last quarter. 71.29% of the stock is currently owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in the various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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