Bristol-Myers Squibb Company (NYSE:BMY)‘s stock had its “buy” rating reiterated by stock analysts at UBS AG in a report released on Friday, October 6th, www.benzinga.com reports. They presently have a $72.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $62.00. UBS AG’s target price would suggest a potential upside of 12.18% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Vetr upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $66.50 target price on the stock in a research report on Wednesday, September 27th. Jefferies Group LLC reissued a “buy” rating and issued a $72.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $62.00) on shares of Bristol-Myers Squibb in a research note on Thursday, September 7th. Credit Suisse Group reiterated a “hold” rating on shares of Bristol-Myers Squibb in a report on Friday, September 8th. Finally, Hilliard Lyons cut Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.79.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 64.18 on Friday. The firm’s 50-day moving average is $62.78 and its 200-day moving average is $56.98. The company has a market cap of $105.25 billion, a PE ratio of 23.44 and a beta of 1.19. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the firm posted $0.69 earnings per share. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Bristol-Myers Squibb will post $2.98 EPS for the current year.
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In related news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total value of $560,400.00. Following the transaction, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at approximately $2,777,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II bought 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Bristol-Myers Squibb by 108.5% in the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after purchasing an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Bristol-Myers Squibb by 185.2% during the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after purchasing an additional 3,960,191 shares during the period. Janus Henderson Group PLC grew its stake in shares of Bristol-Myers Squibb by 2,990.5% during the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after purchasing an additional 3,516,536 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Bristol-Myers Squibb by 42,071.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after purchasing an additional 3,323,649 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Bristol-Myers Squibb by 18.7% during the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock worth $845,504,000 after purchasing an additional 2,451,390 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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