Vetr upgraded shares of Bristol-Myers Squibb Co (NYSE:BMY) from a hold rating to a buy rating in a research report released on Tuesday. The brokerage currently has $61.64 price objective on the biopharmaceutical company’s stock.
Other equities research analysts have also issued reports about the stock. Jefferies Group LLC lowered their price target on shares of Bristol-Myers Squibb to $60.00 in a research note on Friday, January 27th. JPMorgan Chase & Co. reiterated a buy rating on shares of Bristol-Myers Squibb in a research note on Saturday, January 21st. Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating and set a $67.00 price target on the stock in a research note on Tuesday, December 27th. Cowen and Company set a $85.00 price target on shares of Bristol-Myers Squibb and gave the company a buy rating in a research note on Thursday, December 1st. Finally, Gabelli reiterated a buy rating on shares of Bristol-Myers Squibb in a research note on Thursday, February 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Bristol-Myers Squibb presently has an average rating of Hold and a consensus target price of $61.83.
Bristol-Myers Squibb (NYSE:BMY) opened at 55.89 on Tuesday. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $77.12. The stock’s 50 day moving average is $55.34 and its 200-day moving average is $54.86. The firm has a market cap of $93.49 billion, a price-to-earnings ratio of 21.09 and a beta of 1.00.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, January 26th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.04. Bristol-Myers Squibb had a net margin of 22.94% and a return on equity of 31.39%. The business earned $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb will post $2.82 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 7th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, April 5th. Bristol-Myers Squibb’s payout ratio is 58.87%.
In related news, EVP Sandra Leung sold 92,405 shares of Bristol-Myers Squibb stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $57.02, for a total transaction of $5,268,933.10. Following the completion of the sale, the executive vice president now owns 488,063 shares of the company’s stock, valued at approximately $27,829,352.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore R. Samuels II bought 12,000 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, February 27th. The shares were bought at an average cost of $56.77 per share, with a total value of $681,240.00. Following the acquisition, the director now directly owns 12,000 shares in the company, valued at approximately $681,240. The disclosure for this purchase can be found here. Insiders have sold a total of 105,501 shares of company stock valued at $6,015,203 in the last ninety days. 0.24% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC increased its stake in shares of Bristol-Myers Squibb by 95.3% in the third quarter. Penserra Capital Management LLC now owns 1,959 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 956 shares during the last quarter. First New York Securities LLC NY bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $108,000. Welch Investments LLC bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $119,000. State of Alaska Department of Revenue bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $109,000. Finally, Blume Capital Management Inc. increased its stake in shares of Bristol-Myers Squibb by 2.4% in the third quarter. Blume Capital Management Inc. now owns 2,053 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 48 shares during the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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