Atlantic Securities upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have $63.00 target price on the biopharmaceutical company’s stock.
A number of other analysts have also commented on BMY. Zacks Investment Research upgraded Bristol-Myers Squibb from a hold rating to a buy rating and set a $54.00 price target on the stock in a report on Tuesday, May 7th. UBS Group cut their price target on Bristol-Myers Squibb from $55.00 to $51.00 and set a neutral rating on the stock in a report on Thursday, June 13th. Barclays upgraded Bristol-Myers Squibb from an equal weight rating to an overweight rating and boosted their price target for the company from $53.00 to $55.00 in a report on Friday, May 3rd. JPMorgan Chase & Co. initiated coverage on Bristol-Myers Squibb in a report on Friday, May 3rd. They issued an overweight rating and a $62.00 price target on the stock. Finally, Goldman Sachs Group initiated coverage on Bristol-Myers Squibb in a report on Tuesday, May 28th. They issued a buy rating and a $54.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of Hold and an average price target of $55.88.
NYSE:BMY opened at $46.98 on Wednesday. Bristol-Myers Squibb has a 1 year low of $42.48 and a 1 year 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 stock has a market cap of $76.85 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.26 and a beta of 0.73. The stock has a 50-day moving average price of $45.33 and a two-hundred day moving average price of $47.45.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. Bristol-Myers Squibb had a return on equity of 47.63% and a net margin of 26.14%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. Sell-side analysts forecast that Bristol-Myers Squibb will post 4.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a yield of 3.49%. Bristol-Myers Squibb’s payout ratio is presently 41.21%.
In related news, Director Robert J. Bertolini bought 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the acquisition, the director now owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. bought a new stake in Bristol-Myers Squibb during the first quarter worth about $26,000. Private Ocean LLC bought a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $28,000. Trust Department MB Financial Bank N A bought a new stake in Bristol-Myers Squibb in the first quarter valued at approximately $32,000. James Investment Research Inc. raised its stake in Bristol-Myers Squibb by 36.5% in the first quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 219 shares during the period. Finally, Endurance Wealth Management Inc. raised its stake in Bristol-Myers Squibb by 119.6% in the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds 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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