Bristol-Myers Squibb Company (NYSE:BMY) was downgraded by Hilliard Lyons from a “long-term buy” rating to a “neutral” rating in a research note issued on Tuesday, September 12th, Marketbeat reports. They currently have a $65.00 price objective on the biopharmaceutical company’s stock. Hilliard Lyons’ target price would indicate a potential upside of 2.59% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Jefferies Group LLC reiterated a “buy” rating and issued a $64.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. BidaskClub raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price on the stock. in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. Finally, Cowen and Company set a $65.00 price target on Bristol-Myers Squibb and gave the company a “hold” rating in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $62.20.
Bristol-Myers Squibb (BMY) opened at 63.36 on Tuesday. The company has a market cap of $103.91 billion, a P/E ratio of 23.14 and a beta of 1.18. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $63.55. The stock’s 50 day moving average price is $58.94 and its 200-day moving average price is $56.02.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. On average, equities analysts predict that Bristol-Myers Squibb will post $2.98 earnings per share for the current fiscal year.
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In other news, Director Theodore R. Samuels II bought 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $1,006,920. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction 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 disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tradewinds Capital Management LLC raised its position in shares of Bristol-Myers Squibb by 34.6% during the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares during the last quarter. Atlantic Trust LLC bought a new stake in Bristol-Myers Squibb in the second quarter valued at about $111,000. Welch Investments LLC increased its stake in Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 79 shares during the period. Crestwood Advisors Group LLC bought a new stake in Bristol-Myers Squibb in the first quarter valued at about $116,000. Finally, Blue Chip Partners Inc. increased its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 17 shares during the period. 68.88% of the stock is owned by institutional investors and hedge funds.
About Bristol-Myers Squibb
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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