Bristol-Myers Squibb (NYSE:BMY) Lifted to Overweight at Atlantic Securities

Bristol-Myers Squibb (NYSE:BMY) was upgraded by analysts at Atlantic Securities from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, The Fly reports.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of Bristol-Myers Squibb in a research report on Friday, May 3rd. They set an “overweight” rating and a $62.00 price target on the stock. Argus lowered shares of Bristol-Myers Squibb from a “buy” rating to a “hold” rating and set a $46.36 target price on the stock. in a research report on Monday, May 20th. ValuEngine lowered shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Barclays upgraded shares of Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $53.00 to $55.00 in a research report on Friday, May 3rd. Finally, Zacks Investment Research upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.34.

NYSE BMY opened at $46.49 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.88 and a quick ratio of 3.75. The firm has a market cap of $77.40 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.34 and a beta of 0.73. The stock’s 50 day moving average price is $45.29. Bristol-Myers Squibb has a 1 year low of $42.48 and a 1 year high of $63.69.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 25th. The biopharmaceutical company reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.12. The business had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.10 billion. Bristol-Myers Squibb had a net margin of 26.14% and a return on equity of 47.63%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 4.26 earnings per share for the current year.

In other news, Director Robert J. Bertolini bought 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $44.72 per share, with a total value of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at $509,673.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karen Murphy Santiago sold 3,065 shares of Bristol-Myers Squibb stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $47.56, for a total transaction of $145,771.40. Following the transaction, the insider now directly owns 3,066 shares of the company’s stock, valued at approximately $145,818.96. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Bristol-Myers Squibb by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $208,561,000 after acquiring an additional 35,653 shares in the last quarter. Delphi Management Inc. MA bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $1,371,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $1,678,000. Aspire Private Capital LLC bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $160,000. Finally, Actinver Wealth Management Inc. bought a new stake in shares of Bristol-Myers Squibb during the 4th quarter worth $879,000. 77.37% of the stock is owned by hedge funds and other institutional investors.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.

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