Bristol-Myers Squibb’s (BMY) Sell Rating Reaffirmed at BMO Capital Markets

Bristol-Myers Squibb (NYSE:BMY)‘s stock had its “sell” rating reissued by BMO Capital Markets in a research note issued on Monday.

Several other brokerages also recently issued reports on BMY. Credit Suisse Group reissued a “hold” rating and set a $61.00 price target (up previously from $58.00) on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Piper Jaffray Companies reissued a “hold” rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 27th. Leerink Swann boosted their price target on shares of Bristol-Myers Squibb from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. Zacks Investment Research raised shares of Bristol-Myers Squibb from a “sell” rating to a “hold” rating in a report on Friday. Finally, Vetr downgraded shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $63.67 price target for the company. in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, nine have given 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 price target of $65.11.

Shares of Bristol-Myers Squibb (NYSE BMY) traded up $1.00 on Monday, hitting $63.28. 6,747,874 shares of the stock traded hands, compared to its average volume of 7,188,714. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $66.10. The firm has a market capitalization of $103,570.00, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 2.16 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the firm posted $0.77 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. equities analysts expect that Bristol-Myers Squibb will post 2.99 EPS for the current fiscal year.

In other Bristol-Myers Squibb news, Director Theodore R. Samuels II purchased 4,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $62.30 per share, for a total transaction of $249,200.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at $1,370,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now owns 584,373 shares in the company, valued at $37,031,717.01. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

A number of institutional investors have recently modified their holdings of BMY. Renaissance Technologies LLC raised its position in 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 worth $751,563,000 after acquiring an additional 7,020,200 shares in the last quarter. Franklin Resources Inc. raised its holdings in 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 buying an additional 3,960,191 shares during the period. Jennison Associates LLC raised its holdings in 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 buying an additional 3,735,453 shares during the period. Janus Henderson Group PLC raised its holdings in 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 buying an additional 3,516,536 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in 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 buying an additional 3,323,649 shares during the period. Hedge funds and other institutional investors own 69.75% of the company’s stock.

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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.

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

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