Credit Suisse Group AG Reaffirms Hold Rating for Bristol-Myers Squibb Co. (BMY)
Bristol-Myers Squibb Co. (NYSE:BMY)‘s stock had its “hold” rating reiterated by analysts at Credit Suisse Group AG in a report issued on Monday. They presently have a $58.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group AG’s target price indicates a potential upside of 16.54% from the stock’s previous close.
A number of other equities analysts also recently issued reports on BMY. Vetr raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $78.79 target price for the company in a research note on Monday, June 27th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 6th. Zacks Investment Research downgraded Bristol-Myers Squibb from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Berenberg Bank reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Tuesday, July 12th. Finally, Jefferies Group raised their price objective on Bristol-Myers Squibb from $77.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday, July 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.06.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 49.77 on Monday. Bristol-Myers Squibb has a 52-week low of $49.12 and a 52-week high of $77.12. The firm has a 50-day moving average price of $55.09 and a 200-day moving average price of $66.31. The stock has a market cap of $83.16 billion, a P/E ratio of 29.11 and a beta of 0.74.
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Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business earned $4.90 billion during the quarter, compared to the consensus estimate of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. On average, analysts anticipate that Bristol-Myers Squibb will post $2.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 87.36%.
In other Bristol-Myers Squibb news, Director Lamberto Andreotti sold 21,600 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly 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 is available at the SEC website. 0.24% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the period. Bank of Montreal Can acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $154,732,000. Sustainable Growth Advisers LP raised its stake in shares of Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock worth $103,153,000 after buying an additional 1,334,303 shares during the last quarter. Jarislowsky Fraser Ltd raised its stake in shares of Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock worth $100,571,000 after buying an additional 1,332,163 shares during the last quarter. Finally, WestEnd Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the second quarter worth about $94,956,000. 72.88% of the stock is currently 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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