Bristol-Myers Squibb’s (BMY) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Bristol-Myers Squibb (NYSE:BMY) in a research note published on Friday, Benzinga reports. The brokerage currently has a $75.00 target price on the biopharmaceutical company’s stock.

BMY has been the topic of several other research reports. SVB Leerink restated a market perform rating on shares of Bristol-Myers Squibb in a report on Monday, July 10th. HSBC began coverage on Bristol-Myers Squibb in a research report on Friday, July 14th. They issued a reduce rating and a $56.00 price objective on the stock. TD Cowen dropped their target price on Bristol-Myers Squibb from $80.00 to $66.00 and set a market perform rating on the stock in a research report on Friday. Barclays dropped their target price on Bristol-Myers Squibb from $64.00 to $62.00 and set an equal weight rating on the stock in a research report on Friday, July 28th. Finally, Daiwa Capital Markets began coverage on Bristol-Myers Squibb in a research report on Wednesday, June 28th. They set an outperform rating and a $70.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $70.67.

Bristol-Myers Squibb Stock Down 0.8 %

BMY opened at $58.58 on Friday. The business has a 50 day moving average price of $61.62 and a two-hundred day moving average price of $65.11. The company has a quick ratio of 1.28, a current ratio of 1.39 and a debt-to-equity ratio of 1.08. The company has a market cap of $122.38 billion, a PE ratio of 15.58, a P/E/G ratio of 1.57 and a beta of 0.42. Bristol-Myers Squibb has a 52 week low of $58.33 and a 52 week high of $81.43.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.24). Bristol-Myers Squibb had a return on equity of 50.51% and a net margin of 17.62%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $11.81 billion. During the same period last year, the company posted $1.93 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts anticipate that Bristol-Myers Squibb will post 7.49 EPS for the current year.

Insider Buying and Selling at Bristol-Myers Squibb

In other news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now directly owns 27,868 shares in the company, valued at approximately $1,706,915. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Bristol-Myers Squibb news, EVP Ann Powell sold 17,986 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at $1,706,915. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert M. Plenge sold 732 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $61.14, for a total transaction of $44,754.48. Following the sale, the executive vice president now owns 6,584 shares of the company’s stock, valued at $402,545.76. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bristol-Myers Squibb

Several hedge funds have recently made changes to their positions in the stock. Dakota Wealth Management acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth $332,000. Covestor Ltd grew its holdings in Bristol-Myers Squibb by 111.5% during the 1st quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 1,082 shares during the period. NewEdge Advisors LLC grew its holdings in Bristol-Myers Squibb by 53.2% during the 1st quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock worth $12,075,000 after acquiring an additional 57,444 shares during the period. Ergoteles LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter worth $1,997,000. Finally, Mackenzie Financial Corp grew its holdings in Bristol-Myers Squibb by 25.1% during the 1st quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock worth $24,725,000 after acquiring an additional 68,018 shares during the period. Institutional investors own 74.98% of the company’s stock.

Bristol-Myers Squibb Company Profile

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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.