Bristol-Myers Squibb Co. (NYSE:BMY) Given Average Rating of “Hold” by Analysts
Bristol-Myers Squibb Co. (NYSE:BMY) has received an average rating of “Hold” from the twenty-four analysts that are currently covering the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $69.13.
Several research firms have weighed in on BMY. Morgan Stanley lowered Bristol-Myers Squibb from an “overweight” rating to an “equal weight” rating and set a $63.00 target price on the stock. in a report on Friday, August 5th. Jefferies Group restated a “hold” rating and set a $57.00 target price (down from $69.00) on shares of Bristol-Myers Squibb in a report on Monday, September 12th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Monday, September 12th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Finally, Barclays PLC lowered their price target on Bristol-Myers Squibb from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, September 9th.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded down 0.05% during mid-day trading on Wednesday, reaching $55.53. The company’s stock had a trading volume of 5,371,875 shares. The company has a 50 day moving average price of $59.58 and a 200 day moving average price of $67.67. The stock has a market capitalization of $92.78 billion, a P/E ratio of 32.47 and a beta of 0.61. Bristol-Myers Squibb has a 12 month low of $55.02 and a 12 month high of $77.12.
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Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts anticipate that Bristol-Myers Squibb will post $2.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
In related news, Director Lamberto Andreotti sold 23,200 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $74.45, for a total value of $1,727,240.00. Following the completion of the transaction, the director now owns 380,099 shares in the company, valued at approximately $28,298,370.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of BMY. WESPAC Advisors SoCal LLC boosted its stake in shares of Bristol-Myers Squibb by 5.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,538 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 75 shares during the last quarter. Jolley Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 4.0% in the second quarter. Jolley Asset Management LLC now owns 2,092 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 80 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bristol-Myers Squibb during the second quarter valued at approximately $163,000. Solaris Asset Management LLC boosted its stake in shares of Bristol-Myers Squibb by 3.5% in the second quarter. Solaris Asset Management LLC now owns 2,244 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 75 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in shares of Bristol-Myers Squibb by 0.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,353 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 12 shares during the last quarter. Institutional investors own 72.91% 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.
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