Bristol-Myers Squibb Given “Neutral” Rating at Zacks (BMY)
Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday. They currently have a $52.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 5.28% from the company’s current price.
Zacks’ analyst wrote, “Bristol-Myers’ second quarter 2014 adjusted earnings of $0.46 per share beat the Zacks Consensus Estimate by 2 cents. Net sales (including the diabetes business) however slipped 4% to $3.9 billion. Key oncology drugs performed encouragingly in the quarter. However, sales of drugs from its virology unit were disappointing. Bristol-Myers has been trying to offset the declining sales of some of its important products by bringing in new products. We are positive on Bristol-Myers’ decision to sell its underperforming diabetes portfolio. We are also impressed by the company’s efforts to develop its pipeline. We believe that the stock is fairly valued at current levels with limited scope for appreciation and hence retain our Neutral recommendation.”
Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 0.14% during mid-day trading on Friday, hitting $49.39. 5,872,244 shares of the company’s stock traded hands. Bristol-Myers Squibb has a 1-year low of $41.11 and a 1-year high of $57.49. The stock has a 50-day moving average of $48.26 and a 200-day moving average of $50.85. The company has a market cap of $81.848 billion and a P/E ratio of 28.59. Bristol-Myers Squibb also was the recipient of unusually large options trading on Thursday. Stock traders purchased 12,080 put options on the company. This is an increase of approximately 205% compared to the typical daily volume of 3,963 put options.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings data on Thursday, July 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts expect that Bristol-Myers Squibb will post $1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Tuesday, July 1st.
BMY has been the subject of a number of other recent research reports. Analysts at MKM Partners raised their price target on shares of Bristol-Myers Squibb from $29.00 to $34.00 in a research note on Friday. They now have a “sell” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Bristol-Myers Squibb from $42.00 to $43.50 in a research note on Monday, July 14th. They now have a “hold” rating on the stock. Finally, analysts at Leerink Swann cut their price target on shares of Bristol-Myers Squibb from $62.00 to $55.00 in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Bristol-Myers Squibb presently has a consensus rating of “Hold” and an average price target of $51.29.
Bristol-Myers Squibb Company (NYSE:BMY) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis.
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