Bristol-Myers Squibb Co (BMY) PT Raised to $72.00
Bristol-Myers Squibb Co (NYSE:BMY) had its price objective raised by research analysts at Leerink Swann from $61.00 to $72.00 in a report issued on Monday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Leerink Swann’s target price indicates a potential upside of 12.94% from the stock’s previous close.
A number of other equities research analysts have also issued reports on BMY. Citigroup Inc. upped their target price on Bristol-Myers Squibb to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. BidaskClub raised Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Jefferies Group LLC lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $72.00 target price on the stock. in a research note on Monday, October 16th. Finally, Vetr lowered Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 target price on the stock. in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $64.53.
Bristol-Myers Squibb (BMY) traded down 1.04% during trading on Monday, hitting $63.75. The stock had a trading volume of 5,979,307 shares. The firm has a market cap of $104.55 billion, a P/E ratio of 23.28 and a beta of 1.19. The stock’s 50 day moving average price is $63.37 and its 200 day moving average price is $57.29. Bristol-Myers Squibb has a 12-month low of $46.01 and a 12-month high of $66.10.
Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results 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 25.24% and a net margin of 17.92%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter in the prior year, the company earned $0.69 EPS. Bristol-Myers Squibb’s revenue was up 5.6% on a year-over-year basis. On average, analysts anticipate that Bristol-Myers Squibb will post $2.98 EPS for the current fiscal year.
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In other news, SVP Joseph C. Caldarella sold 9,340 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $60.00, for a total transaction of $560,400.00. Following the completion of the sale, the senior vice president now directly owns 46,297 shares in the company, valued at approximately $2,777,820. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Theodore R. Samuels II acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average price of $55.94 per share, with a total value of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $1,006,920. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC increased its holdings in Bristol-Myers Squibb by 8.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 14,061 shares of the biopharmaceutical company’s stock valued at $897,000 after purchasing an additional 1,099 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Bristol-Myers Squibb in the 3rd quarter valued at $1,064,000. Adviser Investments LLC increased its holdings in Bristol-Myers Squibb by 13.6% in the 3rd quarter. Adviser Investments LLC now owns 65,238 shares of the biopharmaceutical company’s stock valued at $4,158,000 after purchasing an additional 7,807 shares in the last quarter. Bartlett & Co. LLC increased its holdings in Bristol-Myers Squibb by 2.4% in the 3rd quarter. Bartlett & Co. LLC now owns 543,744 shares of the biopharmaceutical company’s stock valued at $34,658,000 after purchasing an additional 12,681 shares in the last quarter. Finally, River & Mercantile Asset Management LLP increased its holdings in Bristol-Myers Squibb by 256.4% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 55,600 shares of the biopharmaceutical company’s stock valued at $3,543,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 68.84% 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.
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