Bristol-Myers Squibb Company (NYSE:BMY) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Thursday. They presently have a $64.20 price objective on the biopharmaceutical company’s stock. Vetr‘s price target would suggest a potential upside of 2.52% from the company’s previous close.

Other research analysts also recently issued reports about the company. Credit Suisse Group set a $58.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Leerink Swann cut their price objective on Bristol-Myers Squibb from $66.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. BMO Capital Markets restated an “underperform” rating and set a $47.00 price objective (down from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. Finally, Cowen and Company set a $65.00 price objective on Bristol-Myers Squibb and gave the stock a “hold” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $62.54.

Shares of Bristol-Myers Squibb (NYSE BMY) traded down 0.35% during trading on Thursday, hitting $62.62. The company’s stock had a trading volume of 6,579,322 shares. The company has a 50-day moving average price of $57.53 and a 200-day moving average price of $55.70. The stock has a market cap of $102.69 billion, a PE ratio of 22.87 and a beta of 1.18. Bristol-Myers Squibb has a one year low of $46.01 and a one year high of $63.47.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same period last year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict 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 acquired 6,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $1,006,920. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total transaction of $560,400.00. Following the sale, the senior vice president now directly owns 46,297 shares of the company’s stock, valued at $2,777,820. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Chip Partners Inc. grew its stake in shares of Bristol-Myers Squibb by 0.7% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,156 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 15 shares during the period. Jackson Grant Investment Advisers Inc. grew its stake in shares of Bristol-Myers Squibb by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,905 shares of the biopharmaceutical company’s stock valued at $218,000 after buying an additional 15 shares during the period. Keel Point LLC grew its stake in shares of Bristol-Myers Squibb by 0.3% during the 1st quarter. Keel Point LLC now owns 6,286 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 18 shares during the period. Staley Capital Advisers Inc. grew its stake in shares of Bristol-Myers Squibb by 0.3% during the 1st quarter. Staley Capital Advisers Inc. now owns 6,962 shares of the biopharmaceutical company’s stock valued at $379,000 after buying an additional 24 shares during the period. Finally, Shayne & CO. LLC grew its stake in shares of Bristol-Myers Squibb by 0.6% during the 2nd quarter. Shayne & CO. LLC now owns 4,041 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 24 shares during the period. 68.80% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Bristol-Myers Squibb (NYSE:BMY)

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