Vetr cut shares of Bristol-Myers Squibb Company (NYSE:BMY) from a strong-buy rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $63.81 price target on the biopharmaceutical company’s stock.
Other analysts have also issued research reports about the stock. BMO Capital Markets reiterated an underperform rating and set a $47.00 price objective (down previously from $51.00) on shares of Bristol-Myers Squibb in a research note on Wednesday, July 26th. Leerink Swann dropped their price target on shares of Bristol-Myers Squibb from $66.00 to $61.00 and set an outperform rating for the company in a research note on Friday, July 28th. Jefferies Group LLC restated a buy rating and issued a $63.00 price target on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Cowen and Company set a $65.00 price target on shares of Bristol-Myers Squibb and gave the stock a hold rating in a research note on Monday, July 10th. Finally, BidaskClub lowered shares of Bristol-Myers Squibb from a buy rating to a hold rating in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $62.12.
Shares of Bristol-Myers Squibb (NYSE BMY) traded up 0.25% during midday trading on Wednesday, hitting $56.73. 4,060,530 shares of the company’s stock were exchanged. Bristol-Myers Squibb has a 1-year low of $46.01 and a 1-year high of $60.86. The stock has a market cap of $93.03 billion, a PE ratio of 20.72 and a beta of 1.17. The stock’s 50 day moving average is $55.80 and its 200-day moving average is $54.64.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Analysts predict that Bristol-Myers Squibb will post $2.97 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, July 7th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Wednesday, July 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 56.73%.
In other news, Director Theodore R. Samuels II purchased 6,000 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.
Several institutional investors have recently made changes to their positions in BMY. Dodge & Cox purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $1,316,815,000. Norges Bank purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $770,318,000. Renaissance Technologies LLC increased its position in shares of Bristol-Myers Squibb by 108.5% in the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after buying an additional 7,020,200 shares during the period. Franklin Resources Inc. increased its position in shares of Bristol-Myers Squibb by 185.2% in the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after buying an additional 3,960,191 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares during the period. 69.79% of the stock is owned by institutional investors.
About Bristol-Myers Squibb
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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