Bristol-Myers Squibb (BMY) Rating Increased to Outperform at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, The Fly reports.

A number of other analysts have also recently weighed in on BMY. Societe Generale set a $47.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “sell” rating in a research note on Wednesday, November 14th. William Blair restated an “outperform” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, November 27th. Morgan Stanley reduced their price objective on shares of Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, November 6th. Credit Suisse Group set a $61.00 price objective on shares of Bristol-Myers Squibb and gave the stock a “hold” rating in a research note on Sunday, October 14th. Finally, Barclays boosted their price objective on shares of Bristol-Myers Squibb from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $61.73.

BMY stock opened at $52.03 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.53 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $84.92 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11. Bristol-Myers Squibb has a 12 month low of $46.94 and a 12 month high of $70.05.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.18. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.72 billion. Bristol-Myers Squibb had a net margin of 6.50% and a return on equity of 47.89%. On average, equities research analysts predict that Bristol-Myers Squibb will post 3.87 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in BMY. Alps Advisors Inc. bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $529,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Bristol-Myers Squibb by 3,096.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,762 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 4,613 shares during the last quarter. Factorial Partners LLC bought a new stake in shares of Bristol-Myers Squibb in the 2nd quarter worth about $3,071,000. Capital Investment Advisory Services LLC grew its holdings in shares of Bristol-Myers Squibb by 41.7% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 5,608 shares of the biopharmaceutical company’s stock worth $310,000 after purchasing an additional 1,650 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in shares of Bristol-Myers Squibb by 1,748.8% in the 2nd quarter. Integrated Investment Consultants LLC now owns 63,468 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 60,035 shares during the last quarter. Institutional investors own 72.74% of the company’s stock.

About Bristol-Myers Squibb

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

Featured Story: What is the Dividend Aristocrat Index?

The Fly

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

Receive News & Ratings for Bristol-Myers Squibb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply