Bristol-Myers Squibb Co. (BMY) Cut to “Buy” at Goldman Sachs Group Inc.
Bristol-Myers Squibb Co. (NYSE:BMY) was downgraded by analysts at Goldman Sachs Group Inc. from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday. They presently have a $75.00 price objective on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 49.28% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective 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. Citigroup Inc. lowered their price objective on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Leerink Swann reaffirmed a “buy” rating and set a $85.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, July 29th. Finally, Vetr raised Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.73 target price on the stock in a research note on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has an average rating of “Hold” and an average target price of $69.31.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded up 0.06% during mid-day trading on Thursday, reaching $50.27. The company’s stock had a trading volume of 1,232,480 shares. The company’s 50-day moving average price is $55.34 and its 200-day moving average price is $66.40. The stock has a market capitalization of $83.99 billion, a P/E ratio of 29.40 and a beta of 0.74. Bristol-Myers Squibb has a 12-month low of $49.12 and a 12-month high of $77.12.
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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, beating the Zacks’ 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 firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts forecast that Bristol-Myers Squibb will post $2.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
In other news, Director Lamberto Andreotti sold 21,600 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was 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 directly owns 334,499 shares of the company’s stock, valued at approximately $19,022,958.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Williams Jones & Associates LLC raised 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 valued at $25,315,000 after buying an additional 6,125 shares during the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in Bristol-Myers Squibb during the first quarter valued at approximately $2,344,000. Aperio Group LLC raised its position in Bristol-Myers Squibb by 5.4% in the first quarter. Aperio Group LLC now owns 696,173 shares of the biopharmaceutical company’s stock valued at $44,472,000 after buying an additional 35,593 shares during the last quarter. Telemus Capital LLC raised its position in Bristol-Myers Squibb by 72.0% in the first quarter. Telemus Capital LLC now owns 9,470 shares of the biopharmaceutical company’s stock valued at $605,000 after buying an additional 3,965 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in Bristol-Myers Squibb by 21.7% in the first quarter. Granite Investment Partners LLC now owns 182,227 shares of the biopharmaceutical company’s stock valued at $11,641,000 after buying an additional 32,440 shares during the last quarter. 72.88% of the stock is owned by hedge funds and other institutional investors.
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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