Bristol-Myers Squibb Company (BMY) Raised to Strong-Buy at Vetr Inc.
Bristol-Myers Squibb Company (NYSE:BMY) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $64.08 price target on the biopharmaceutical company’s stock. Vetr‘s price objective would suggest a potential upside of 12.88% from the company’s current price.
Other analysts have also issued reports about the company. Credit Suisse Group set a $58.00 price objective on Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Wednesday. BMO Capital Markets reiterated an “underperform” rating and set a $47.00 price objective (down from $51.00) on shares of Bristol-Myers Squibb in a research note on Wednesday, July 26th. Leerink Swann decreased their price objective on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $62.12.
Bristol-Myers Squibb (NYSE:BMY) traded down 1.27% during mid-day trading on Thursday, hitting $56.77. The stock had a trading volume of 4,393,721 shares. The stock has a market capitalization of $93.10 billion, a P/E ratio of 20.73 and a beta of 1.17. The company’s 50 day moving average is $55.93 and its 200-day moving average is $54.91. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $60.45.
Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a return on equity of 32.33% and a net margin of 22.66%. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts expect that Bristol-Myers Squibb will post $2.98 EPS for the current fiscal year.
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In related news, Director Theodore R. Samuels II bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Bristol-Myers Squibb by 108.5% in the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock valued at $751,563,000 after buying an additional 7,020,200 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Bristol-Myers Squibb by 185.2% in the second quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock valued at $339,830,000 after buying an additional 3,960,191 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Bristol-Myers Squibb by 2,990.5% in the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock valued at $202,494,000 after buying an additional 3,516,536 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Bristol-Myers Squibb by 42,071.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock valued at $185,634,000 after buying an additional 3,323,649 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Bristol-Myers Squibb by 18.7% in the first quarter. Ameriprise Financial Inc. now owns 15,547,051 shares of the biopharmaceutical company’s stock valued at $845,504,000 after buying an additional 2,451,390 shares in the last quarter. Institutional investors own 69.68% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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