Atlantic Securities upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a neutral rating to an overweight rating in a report issued on Wednesday morning, BenzingaRatingsTable reports. They currently have $63.00 price objective on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently weighed in on BMY. Zacks Investment Research upgraded Bristol-Myers Squibb from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Tuesday, May 7th. Argus downgraded Bristol-Myers Squibb from a buy rating to a hold rating and set a $46.36 price target for the company. in a report on Monday, May 20th. Goldman Sachs Group assumed coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They issued a buy rating and a $54.00 price target for the company. ValuEngine downgraded Bristol-Myers Squibb from a sell rating to a strong sell rating in a research note on Tuesday, July 2nd. Finally, Barclays upgraded Bristol-Myers Squibb from an equal weight rating to an overweight rating and upped their price objective for the stock from $53.00 to $55.00 in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $55.88.
Shares of NYSE BMY opened at $46.98 on Wednesday. Bristol-Myers Squibb has a twelve month low of $42.48 and a twelve month high of $63.69. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $74.84 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. The business has a 50 day simple moving average of $45.33 and a 200-day simple moving average of $47.45.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.12. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the business earned $1.01 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts predict that Bristol-Myers Squibb will post 4.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.49%. Bristol-Myers Squibb’s payout ratio is currently 41.21%.
In related news, Director Robert J. Bertolini acquired 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the purchase, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC grew its stake in shares of Bristol-Myers Squibb by 119.4% in the second quarter. Kovitz Investment Group Partners LLC now owns 196,526 shares of the biopharmaceutical company’s stock worth $8,912,000 after purchasing an additional 106,934 shares in the last quarter. Lehman & Derafelo Financial Resources LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth $236,000. Lumina Fund Management LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth $680,000. Magnetar Financial LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth $10,823,000. Finally, NewDay Solutions LLC bought a new position in shares of Bristol-Myers Squibb in the second quarter worth $248,000. Hedge funds and other institutional investors own 77.37% of the company’s stock.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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