Jefferies Group LLC lowered shares of Bristol-Myers Squibb Company (NYSE:BMY) from a buy rating to a hold rating in a report released on Monday, Marketbeat reports. The brokerage currently has $72.00 price target on the biopharmaceutical company’s stock. Jefferies Group also issued estimates for Bristol-Myers Squibb’s Q3 2017 earnings at $0.78 EPS, FY2017 earnings at $2.98 EPS, FY2018 earnings at $3.19 EPS, FY2019 earnings at $3.86 EPS, FY2020 earnings at $4.34 EPS and FY2021 earnings at $4.97 EPS.
A number of other research analysts have also issued reports on the stock. Barclays PLC raised their target price on shares of Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an equal weight rating in a research note on Friday, October 13th. BMO Capital Markets set a $49.00 target price on shares of Bristol-Myers Squibb and gave the company a sell rating in a research note on Thursday, October 12th. Vetr upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $67.92 target price on the stock in a research note on Monday, October 9th. UBS AG reiterated a buy rating and issued a $72.00 target price (up from $62.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Finally, Cowen and Company reiterated a hold rating and issued a $65.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Bristol-Myers Squibb presently has an average rating of Hold and an average target price of $63.79.
Bristol-Myers Squibb (NYSE BMY) opened at 64.67 on Monday. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $66.10. The stock has a market capitalization of $106.05 billion, a PE ratio of 23.62 and a beta of 1.19. The firm has a 50-day moving average of $63.26 and a 200-day moving average of $57.22.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period last year, the business posted $0.69 EPS. Bristol-Myers Squibb’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb will post $2.98 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.56 annualized dividend and a dividend yield of 2.41%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 56.73%.
In related news, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore R. Samuels II purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, with a total value of $335,640.00. Following the completion of 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 currently owned by insiders.
A number of hedge funds have recently made changes to their positions in BMY. Waldron LP bought a new position in Bristol-Myers Squibb during the 1st quarter valued at about $475,000. Parsec Financial Management Inc. lifted its holdings in Bristol-Myers Squibb by 6.8% during the 1st quarter. Parsec Financial Management Inc. now owns 7,447 shares of the biopharmaceutical company’s stock valued at $405,000 after purchasing an additional 475 shares during the last quarter. IFP Advisors Inc lifted its holdings in Bristol-Myers Squibb by 5.5% during the 1st quarter. IFP Advisors Inc now owns 92,923 shares of the biopharmaceutical company’s stock valued at $5,053,000 after purchasing an additional 4,812 shares during the last quarter. Leavell Investment Management Inc. lifted its holdings in Bristol-Myers Squibb by 3.1% during the 1st quarter. Leavell Investment Management Inc. now owns 21,471 shares of the biopharmaceutical company’s stock valued at $1,168,000 after purchasing an additional 650 shares during the last quarter. Finally, Breton Hill Capital Ltd. bought a new position in Bristol-Myers Squibb during the 1st quarter valued at about $1,335,000. 68.84% of the stock is owned by hedge funds and other institutional investors.
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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