Bristol-Myers Squibb (NYSE:BMY) Stock Rating Upgraded by StockNews.com

Bristol-Myers Squibb (NYSE:BMYGet Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Several other equities analysts have also recently issued reports on BMY. The Goldman Sachs Group lowered their price target on Bristol-Myers Squibb from $81.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, October 30th. Redburn Atlantic cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $77.00 to $54.00 in a research report on Tuesday, February 6th. Barclays cut their target price on Bristol-Myers Squibb from $60.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Cantor Fitzgerald lowered Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $68.00 to $55.00 in a research note on Wednesday, November 15th. Finally, TheStreet lowered Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.17.

Read Our Latest Stock Analysis on Bristol-Myers Squibb

Bristol-Myers Squibb Trading Down 0.1 %

Shares of NYSE BMY opened at $49.75 on Tuesday. The company has a market cap of $101.23 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.53 and a beta of 0.38. Bristol-Myers Squibb has a 12-month low of $47.58 and a 12-month high of $73.47. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The stock’s 50 day simple moving average is $50.52 and its 200 day simple moving average is $54.58.

Bristol-Myers Squibb (NYSE:BMYGet Free Report) last posted its earnings results on Friday, February 2nd. The biopharmaceutical company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.55 by $0.15. Bristol-Myers Squibb had a return on equity of 50.33% and a net margin of 17.83%. The firm had revenue of $11.48 billion for the quarter, compared to analysts’ expectations of $11.19 billion. During the same period last year, the firm earned $1.82 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb will post 6.52 EPS for the current year.

Bristol-Myers Squibb declared that its board has initiated a share buyback program on Thursday, December 7th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Theodore R. Samuels II bought 8,500 shares of the stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the acquisition, the director now owns 35,500 shares in the company, valued at $1,768,255. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Theodore R. Samuels II acquired 8,500 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $49.81 per share, for a total transaction of $423,385.00. Following the acquisition, the director now directly owns 35,500 shares of the company’s stock, valued at $1,768,255. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher S. Boerner acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was bought at an average price of $49.78 per share, with a total value of $99,560.00. Following the acquisition, the chief executive officer now directly owns 82,672 shares in the company, valued at $4,115,412.16. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 13,571 shares of company stock worth $672,994. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Bristol-Myers Squibb

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Bristol-Myers Squibb by 0.9% during the 2nd quarter. State Street Corp now owns 92,570,288 shares of the biopharmaceutical company’s stock worth $5,919,870,000 after acquiring an additional 858,922 shares during the period. Capital International Investors lifted its holdings in shares of Bristol-Myers Squibb by 12.8% during the 2nd quarter. Capital International Investors now owns 69,296,006 shares of the biopharmaceutical company’s stock worth $4,431,517,000 after acquiring an additional 7,878,833 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 39,034,341 shares of the biopharmaceutical company’s stock worth $2,489,314,000 after acquiring an additional 225,065 shares during the period. Norges Bank bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $1,560,524,000. Finally, Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 5.8% during the 3rd quarter. Northern Trust Corp now owns 25,292,711 shares of the biopharmaceutical company’s stock worth $1,467,989,000 after acquiring an additional 1,394,158 shares during the period. Institutional investors own 74.98% of the company’s stock.

About Bristol-Myers Squibb

(Get Free Report)

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.

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