Bristol-Myers Squibb Company (NYSE:BMY) Stock Rating Upgraded by Vetr Inc.

Bristol-Myers Squibb Company (NYSE:BMY) was upgraded by Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Monday, October 9th. The firm currently has a $67.92 price target on the biopharmaceutical company’s stock. Vetr‘s price target suggests a potential upside of 5.43% from the stock’s previous close.

A number of other research firms have also recently issued reports on BMY. UBS AG reiterated a “buy” rating and set a $72.00 price objective (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Friday, October 6th. Jefferies Group LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $65.00 price objective (up from $62.00) on shares of Bristol-Myers Squibb in a research report on Thursday, September 7th. Credit Suisse Group reiterated a “hold” rating on shares of Bristol-Myers Squibb in a research report on Friday, September 8th. Finally, Hilliard Lyons cut shares of Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Bristol-Myers Squibb has an average rating of “Hold” and a consensus price target of $63.79.

Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 64.42 on Monday. The stock’s 50 day moving average price is $63.37 and its 200 day moving average price is $57.29. The firm has a market cap of $105.64 billion, a PE ratio of 23.53 and a beta of 1.19. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $66.10.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS. On average, equities research analysts predict that Bristol-Myers Squibb will post $2.99 EPS for the current fiscal year.

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In related news, SVP Joseph C. Caldarella sold 9,340 shares of the firm’s 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 sale, the senior vice president now owns 46,297 shares in the company, valued at $2,777,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore R. Samuels II acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its position in Bristol-Myers Squibb by 54.0% during the first quarter. Toronto Dominion Bank now owns 464,591 shares of the biopharmaceutical company’s stock worth $25,264,000 after purchasing an additional 162,884 shares during the period. Mutual of America Capital Management LLC boosted its position in Bristol-Myers Squibb by 1.9% during the first quarter. Mutual of America Capital Management LLC now owns 201,037 shares of the biopharmaceutical company’s stock worth $10,932,000 after purchasing an additional 3,833 shares during the period. Quantitative Investment Management LLC bought a new position in Bristol-Myers Squibb during the first quarter worth about $6,150,000. Meridian Management Co. boosted its position in Bristol-Myers Squibb by 1.5% during the first quarter. Meridian Management Co. now owns 51,770 shares of the biopharmaceutical company’s stock worth $2,815,000 after purchasing an additional 770 shares during the period. Finally, Tobam boosted its position in Bristol-Myers Squibb by 124.5% during the first quarter. Tobam now owns 793,714 shares of the biopharmaceutical company’s stock worth $43,163,000 after purchasing an additional 440,170 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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