TheStreet upgraded shares of Bristol-Myers Squibb (NYSE:BMY) from a c+ rating to a b- rating in a report issued on Wednesday, September 18th, TheStreetRatingsTable reports.
A number of other brokerages have also recently commented on BMY. JPMorgan Chase & Co. set a $62.00 target price on shares of Bristol-Myers Squibb and gave the company a buy rating in a research report on Friday, September 13th. Bank of America upped their price objective on shares of Bristol-Myers Squibb from $46.00 to $49.00 and gave the company a neutral rating in a research note on Tuesday, September 3rd. UBS Group dropped their target price on shares of Bristol-Myers Squibb from $55.00 to $51.00 and set a neutral rating for the company in a research report on Thursday, June 13th. Goldman Sachs Group assumed coverage on shares of Bristol-Myers Squibb in a research report on Tuesday, May 28th. They set a buy rating and a $54.00 target price for the company. Finally, Atlantic Securities raised shares of Bristol-Myers Squibb from a neutral rating to an overweight rating and set a $63.00 target price for the company in a research report on Wednesday, August 14th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $55.81.
BMY traded up $0.83 during midday trading on Wednesday, hitting $51.61. 11,252,253 shares of the company traded hands, compared to its average volume of 9,775,118. 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 $83.15 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.50 and a beta of 0.72. Bristol-Myers Squibb has a 52-week low of $42.48 and a 52-week high of $59.28. The business has a 50 day simple moving average of $49.33 and a two-hundred day simple moving average of $47.05.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities research analysts anticipate that Bristol-Myers Squibb will post 4.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, October 3rd. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
In related news, Director Robert J. Bertolini purchased 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of $44.72 per share, for a total transaction of $491,920.00. Following the acquisition, the director now directly owns 11,397 shares in the company, valued at $509,673.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Private Ocean LLC purchased a new position in Bristol-Myers Squibb during the first quarter valued at $28,000. Lenox Wealth Advisors LLC lifted its holdings in Bristol-Myers Squibb by 555.7% during the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 539 shares in the last quarter. Endurance Wealth Management Inc. lifted its holdings in Bristol-Myers Squibb by 119.6% during the second quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 500 shares in the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in Bristol-Myers Squibb by 47.4% during the first quarter. SeaBridge Investment Advisors LLC now owns 933 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 300 shares in the last quarter. Finally, HMS Capital Management LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at $45,000. Institutional investors own 80.17% of the company’s stock.
Bristol-Myers Squibb Company Profile
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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