Bristol-Myers Squibb (BMY) Upgraded to Hold at Zacks Investment Research

Bristol-Myers Squibb (NYSE:BMY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Bristol-Myers’ blockbuster drug Opdivo is facing competitive challenges in the United States. With the FDA approving Merck’s Keytruda, for the first-line treatment of metastatic non-squamous NSCLC, the competition will stiffen up.  Pricing concerns, stiff competition in the HCV and immuno-oncology space are expected to remain a significant overhang on the company’s shares. Yervoy’s sales are expected to be under pressure due to adoption of Opdivo in adjuvant melanoma. Gross margin is also expected to be under pressure due to product mix and declines in virology business. Shares of the company have underperformed the industry in the last twelve months. Estimates have remained stable ahead of Q4 earnings. The company has a mixed record of earnings surprises in the recent quarters.”

Several other equities research analysts have also recently commented on the company. SunTrust Banks upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Barclays boosted their target price on Bristol-Myers Squibb from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, October 13th. Vetr cut Bristol-Myers Squibb from a “hold” rating to a “sell” rating and set a $59.70 target price on the stock. in a research note on Thursday, December 28th. BMO Capital Markets set a $49.00 target price on Bristol-Myers Squibb and gave the company a “sell” rating in a research note on Thursday, October 26th. Finally, Leerink Swann boosted their target price on Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.11.

Bristol-Myers Squibb (BMY) traded up $0.45 during trading hours on Friday, hitting $62.28. The stock had a trading volume of 7,488,267 shares, compared to its average volume of 7,222,631. Bristol-Myers Squibb has a fifty-two week low of $46.01 and a fifty-two week high of $66.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.59 and a quick ratio of 1.46. The company has a market cap of $101,930.00, a PE ratio of 24.52, a PEG ratio of 2.18 and a beta of 1.18.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. equities analysts anticipate that Bristol-Myers Squibb will post 2.99 earnings per share for the current year.

In other Bristol-Myers Squibb news, EVP Thomas J. Jr. Lynch sold 5,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $63.24, for a total transaction of $335,172.00. Following the transaction, the executive vice president now owns 9,251 shares of the company’s stock, valued at approximately $585,033.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore R. Samuels II purchased 4,000 shares of the stock in a transaction on Friday, December 15th. The shares were bought at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the transaction, the director now directly owns 22,000 shares in the company, valued at $1,370,600. The disclosure for this purchase can be found here. 0.23% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of BMY. Renaissance Technologies LLC increased its holdings in shares of Bristol-Myers Squibb by 108.5% during the 2nd quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after acquiring an additional 7,020,200 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Bristol-Myers Squibb by 185.2% during the 2nd quarter. Franklin Resources Inc. now owns 6,098,935 shares of the biopharmaceutical company’s stock worth $339,830,000 after acquiring an additional 3,960,191 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Bristol-Myers Squibb by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 26,854,242 shares of the biopharmaceutical company’s stock worth $1,711,689,000 after acquiring an additional 3,735,453 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Bristol-Myers Squibb by 2,990.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after acquiring an additional 3,516,536 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Bristol-Myers Squibb by 42,071.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after acquiring an additional 3,323,649 shares during the last quarter. 69.74% of the stock is currently owned by hedge funds and other institutional investors.

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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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