Bristol-Myers Squibb Company (BMY) Price Target Increased to $72.00 by Analysts at Jefferies Group LLC
Bristol-Myers Squibb Company (NYSE:BMY) had its target price boosted by stock analysts at Jefferies Group LLC from $66.00 to $72.00 in a report released on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 14.86% from the stock’s previous close.
Several other equities research analysts have also issued reports on BMY. BidaskClub raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Credit Suisse Group reaffirmed a “hold” rating on shares of Bristol-Myers Squibb in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Vetr raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $64.08 price objective for the company in a research note on Thursday, August 17th. Finally, Cowen and Company set a $65.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $62.31.
Shares of Bristol-Myers Squibb (NYSE BMY) traded up 0.94% during mid-day trading on Monday, reaching $63.28. The company had a trading volume of 2,218,951 shares. The stock has a market capitalization of $103.77 billion, a P/E ratio of 23.11 and a beta of 1.18. The company’s 50-day moving average is $58.32 and its 200 day moving average is $55.91. Bristol-Myers Squibb has a 52-week low of $46.01 and a 52-week high of $63.47. Bristol-Myers Squibb also was the target of some unusual options trading activity on Thursday. Stock traders purchased 781 put options on the stock. This is an increase of approximately 117% compared to the typical volume of 360 put options.
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 the 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 business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Bristol-Myers Squibb’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts anticipate 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 company’s stock in a transaction dated Wednesday, August 2nd. The shares were bought at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at approximately $1,006,920. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Joseph C. Caldarella sold 9,340 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the transaction, the senior vice president now owns 46,297 shares in the company, valued at approximately $2,777,820. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
Several large investors have recently bought and sold shares of BMY. Berkshire Asset Management LLC PA increased its stake in Bristol-Myers Squibb by 143.2% in the first quarter. Berkshire Asset Management LLC PA now owns 12,738 shares of the biopharmaceutical company’s stock valued at $693,000 after acquiring an additional 7,500 shares during the period. Cullinan Associates Inc. increased its stake in Bristol-Myers Squibb by 2.8% in the first quarter. Cullinan Associates Inc. now owns 134,496 shares of the biopharmaceutical company’s stock valued at $7,314,000 after acquiring an additional 3,628 shares during the period. Pinnacle Bank bought a new stake in Bristol-Myers Squibb in the first quarter valued at about $255,000. Kissinger Financial Services LLC increased its stake in Bristol-Myers Squibb by 3.1% in the first quarter. Kissinger Financial Services LLC now owns 5,938 shares of the biopharmaceutical company’s stock valued at $322,000 after acquiring an additional 178 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its stake in Bristol-Myers Squibb by 6.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 56,665 shares of the biopharmaceutical company’s stock valued at $3,082,000 after acquiring an additional 3,528 shares during the period. Institutional investors own 68.80% of the company’s stock.
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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