Vetr upgraded shares of Bristol-Myers Squibb Company (NYSE:BMY) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday, July 26th. The brokerage currently has $64.33 target price on the biopharmaceutical company’s stock.
Several other research firms have also recently commented on BMY. BMO Capital Markets reiterated a market perform rating and set a $45.00 target price on shares of Bristol-Myers Squibb in a research note on Sunday, April 23rd. BidaskClub upgraded shares of Bristol-Myers Squibb from a hold rating to a buy rating in a research note on Tuesday, June 27th. Cowen and Company set a $65.00 price objective on shares of Bristol-Myers Squibb and gave the company a hold rating in a research note on Monday, July 10th. William Blair restated an outperform rating on shares of Bristol-Myers Squibb in a research note on Monday, June 26th. Finally, Jefferies Group LLC restated a buy rating and issued a $64.00 price objective on shares of Bristol-Myers Squibb in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $63.33.
Bristol-Myers Squibb (BMY) opened at 56.91 on Wednesday. The firm has a 50-day moving average of $55.66 and a 200 day moving average of $54.52. Bristol-Myers Squibb has a 1-year low of $46.01 and a 1-year high of $63.65. The firm has a market cap of $93.33 billion, a P/E ratio of 20.79 and a beta of 1.17.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm 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 quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, analysts predict that Bristol-Myers Squibb will post $2.97 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/08/09/bristol-myers-squibb-company-bmy-upgraded-to-strong-buy-at-vetr-inc-updated.html.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Wednesday, July 5th. Bristol-Myers Squibb’s payout ratio is 56.73%.
In related news, Director Theodore R. Samuels II bought 6,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BMY. American National Bank increased its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Tradewinds Capital Management LLC increased its stake in shares of Bristol-Myers Squibb by 34.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,945 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 500 shares during the period. Welch Investments LLC increased its stake in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $116,000. Finally, Blue Chip Partners Inc. increased its stake in Bristol-Myers Squibb by 0.8% in the first quarter. Blue Chip Partners Inc. now owns 2,141 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 69.79% of the company’s stock.
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.
Receive News & Ratings for Bristol-Myers Squibb Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bristol-Myers Squibb Company and related companies with MarketBeat.com's FREE daily email newsletter.
