BMY has been the topic of a number of other reports. Leerink Swann reiterated an outperform rating and issued a $69.00 price objective on shares of Bristol-Myers Squibb in a report on Sunday. Morgan Stanley downgraded shares of Bristol-Myers Squibb from an overweight rating to an equal weight rating and set a $63.00 price objective on the stock. in a report on Friday, August 5th. Jefferies Group reiterated a hold rating and issued a $57.00 price objective (down from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a buy rating on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Finally, Berenberg Bank reiterated a buy rating on shares of Bristol-Myers Squibb in a report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $69.31.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 0.2002% during mid-day trading on Wednesday, reaching $50.1101. 5,959,834 shares of the company’s stock were exchanged. The stock has a market cap of $83.73 billion, a price-to-earnings ratio of 29.3042 and a beta of 0.74. The stock’s 50-day moving average is $55.58 and its 200-day moving average is $66.51. Bristol-Myers Squibb has a 52-week low of $49.12 and a 52-week high of $77.12.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities analysts expect that Bristol-Myers Squibb will post $2.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.04%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $56.87, for a total transaction of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the last quarter. Bank of Montreal Can purchased a new position in Bristol-Myers Squibb during the second quarter valued at about $154,732,000. Sustainable Growth Advisers LP increased its position in Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares in the last quarter. Jarislowsky Fraser Ltd increased its position in Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock valued at $100,571,000 after buying an additional 1,332,163 shares in the last quarter. Finally, WestEnd Advisors LLC purchased a new position in Bristol-Myers Squibb during the second quarter valued at about $94,956,000. 72.88% 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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