Bristol-Myers Squibb’s (BMY) “Neutral” Rating Reaffirmed at Bank of America

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “neutral” rating restated by analysts at Bank of America in a note issued to investors on Tuesday,Benzinga reports. They currently have a $63.00 target price on the biopharmaceutical company’s stock. Bank of America‘s target price indicates a potential upside of 7.25% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Barclays upped their price objective on Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. UBS Group lifted their price objective on shares of Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their price target on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus target price of $54.29.

Bristol-Myers Squibb Stock Performance

Shares of Bristol-Myers Squibb stock opened at $58.74 on Tuesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $61.08. The stock’s fifty day moving average price is $55.62 and its 200-day moving average price is $48.95. The firm has a market cap of $119.14 billion, a P/E ratio of -16.36, a P/E/G ratio of 15.93 and a beta of 0.45. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.49 by $0.31. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.26 billion. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. On average, equities research analysts expect that Bristol-Myers Squibb will post 0.93 earnings per share for the current fiscal year.

Insider Activity at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was acquired at an average cost of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now directly owns 62,109 shares in the company, valued at $3,395,499.03. This represents a 3.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Phil M. Holzer sold 700 shares of Bristol-Myers Squibb stock in a transaction on Monday, November 4th. The shares were sold at an average price of $55.62, for a total transaction of $38,934.00. Following the completion of the sale, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 5.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Bristol-Myers Squibb

A number of large investors have recently added to or reduced their stakes in the stock. Meridian Management Co. raised its position in shares of Bristol-Myers Squibb by 0.6% during the 3rd quarter. Meridian Management Co. now owns 28,283 shares of the biopharmaceutical company’s stock worth $1,463,000 after purchasing an additional 182 shares during the last quarter. Hollencrest Capital Management increased its stake in Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 187 shares in the last quarter. Dunhill Financial LLC raised its holdings in shares of Bristol-Myers Squibb by 39.8% during the third quarter. Dunhill Financial LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 189 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Bristol-Myers Squibb by 2.3% in the third quarter. Mayflower Financial Advisors LLC now owns 8,466 shares of the biopharmaceutical company’s stock valued at $438,000 after acquiring an additional 192 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of Bristol-Myers Squibb by 3.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,595 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 206 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.