Bristol-Myers Squibb Co. (BMY) Earns Outperform Rating from Leerink Swann
Bristol-Myers Squibb Co. (NYSE:BMY)‘s stock had its “outperform” rating reaffirmed by equities researchers at Leerink Swann in a research note issued to investors on Sunday. They currently have a $69.00 target price on the biopharmaceutical company’s stock. Leerink Swann’s target price indicates a potential upside of 39.25% from the stock’s current price.
A number of other research firms have also weighed in on BMY. Jefferies Group increased their price objective on shares of Bristol-Myers Squibb from $77.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, July 14th. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Wednesday, July 13th. Berenberg Bank reaffirmed a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Vetr raised shares of Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a research report on Monday, July 25th. Finally, SunTrust Banks Inc. lowered shares of Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $86.00 to $68.00 in a research report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average target price of $69.31.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 1.0355% during mid-day trading on Friday, hitting $50.0631. The stock had a trading volume of 8,748,360 shares. Bristol-Myers Squibb has a 52-week low of $49.50 and a 52-week high of $77.12. The company’s 50 day moving average is $55.86 and its 200-day moving average is $66.63. The stock has a market cap of $83.65 billion, a P/E ratio of 29.2767 and a beta of 0.74.
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Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Bristol-Myers Squibb had a net margin of 16.63% and a return on equity of 24.92%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities research analysts anticipate that Bristol-Myers Squibb will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.07%. Bristol-Myers Squibb’s payout ratio is 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of Bristol-Myers Squibb stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $56.87, for a total value of $1,228,392.00. Following the completion of the transaction, the director now owns 334,499 shares of the company’s stock, valued at $19,022,958.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Williams Jones & Associates LLC boosted its position in Bristol-Myers Squibb by 1.6% in the first quarter. Williams Jones & Associates LLC now owns 396,296 shares of the biopharmaceutical company’s stock worth $25,315,000 after buying an additional 6,125 shares during the last quarter. Shayne & CO. LLC boosted its position in Bristol-Myers Squibb by 0.5% in the first quarter. Shayne & CO. LLC now owns 3,928 shares of the biopharmaceutical company’s stock worth $251,000 after buying an additional 21 shares during the last quarter. Chesley Taft & Associates LLC boosted its position in Bristol-Myers Squibb by 0.3% in the first quarter. Chesley Taft & Associates LLC now owns 18,799 shares of the biopharmaceutical company’s stock worth $1,201,000 after buying an additional 50 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in Bristol-Myers Squibb by 3.4% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 38,597 shares of the biopharmaceutical company’s stock worth $2,466,000 after buying an additional 1,269 shares during the last quarter. Finally, IMS Capital Management boosted its position in Bristol-Myers Squibb by 15.2% in the first quarter. IMS Capital Management now owns 6,451 shares of the biopharmaceutical company’s stock worth $412,000 after buying an additional 852 shares during the last quarter. 72.88% 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.
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