Bristol-Myers Squibb (NYSE:BMY) was downgraded by equities researchers at UBS from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, www.benzinga.com reports. They presently have a $57.00 price target on the biopharmaceutical company’s stock. UBS’s price objective suggests a potential upside of 9.11% from the company’s previous close.
Other analysts also recently issued reports about the company. BMO Capital Markets reduced their target price on Bristol-Myers Squibb from $51.00 to $47.00 and set an “underperform” rating for the company in a report on Wednesday, April 18th. Vetr downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $60.72 target price for the company. in a report on Monday, January 22nd. Credit Suisse Group set a $58.00 target price on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Thursday, April 26th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Finally, TheStreet downgraded Bristol-Myers Squibb from a “b” rating to a “c+” rating in a report on Thursday, March 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average target price of $62.84.
Bristol-Myers Squibb traded down $0.47, reaching $52.24, during trading on Monday, according to Marketbeat Ratings. 531,763 shares of the company’s stock were exchanged, compared to its average volume of 8,682,845. The company has a market capitalization of $86.16 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.32 and a beta of 0.99. 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 1 year low of $49.96 and a 1 year high of $70.05.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, April 26th. The biopharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.09. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.25 billion. Bristol-Myers Squibb had a return on equity of 37.56% and a net margin of 4.37%. Bristol-Myers Squibb’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. equities research analysts expect that Bristol-Myers Squibb will post 3.41 earnings per share for the current year.
In related news, Director Dinesh C. Paliwal purchased 4,770 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were purchased at an average price of $52.40 per share, for a total transaction of $249,948.00. Following the transaction, the director now directly owns 8,027 shares of the company’s stock, valued at approximately $420,614.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMY. Wesbanco Bank Inc. boosted its stake in shares of Bristol-Myers Squibb by 4.2% during the 1st quarter. Wesbanco Bank Inc. now owns 471,875 shares of the biopharmaceutical company’s stock worth $29,846,000 after acquiring an additional 19,224 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in shares of Bristol-Myers Squibb by 3.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 319,826 shares of the biopharmaceutical company’s stock worth $20,229,000 after acquiring an additional 11,865 shares in the last quarter. Gables Capital Management Inc. purchased a new stake in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $622,000. NEXT Financial Group Inc boosted its stake in shares of Bristol-Myers Squibb by 8.4% during the 1st quarter. NEXT Financial Group Inc now owns 20,595 shares of the biopharmaceutical company’s stock worth $1,303,000 after acquiring an additional 1,597 shares in the last quarter. Finally, Griffin Asset Management Inc. boosted its stake in shares of Bristol-Myers Squibb by 1.0% during the 1st quarter. Griffin Asset Management Inc. now owns 187,007 shares of the biopharmaceutical company’s stock worth $11,828,000 after acquiring an additional 1,854 shares in the last quarter. Institutional investors own 71.29% of the company’s stock.
Bristol-Myers Squibb Company Profile
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.
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