Bristol-Myers Squibb (NYSE:BMY) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, January 6th, Marketbeat reports. The brokerage presently has a $73.00 price objective on the biopharmaceutical company’s stock. Citigroup‘s target price indicates a potential upside of 9.13% from the company’s current price.
A number of other equities research analysts have also issued reports on BMY. William Blair restated a “buy” rating on shares of Bristol-Myers Squibb in a report on Friday, December 13th. UBS Group lifted their price target on Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Gabelli initiated coverage on Bristol-Myers Squibb in a research note on Wednesday, November 27th. They issued a “buy” rating for the company. JPMorgan Chase & Co. set a $62.00 target price on Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Wolfe Research set a $66.00 target price on Bristol-Myers Squibb and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $61.69.
NYSE BMY traded up $0.31 during trading on Monday, reaching $66.89. The company’s stock had a trading volume of 1,122,543 shares, compared to its average volume of 12,465,342. Bristol-Myers Squibb has a twelve month low of $42.48 and a twelve month high of $67.09. The firm has a market cap of $108.25 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 0.85 and a beta of 0.73. The business’s fifty day moving average price is $62.52 and its 200-day moving average price is $53.03. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.72 and a current ratio of 3.83.
Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.11. Bristol-Myers Squibb had a return on equity of 45.49% and a net margin of 23.53%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same period in the previous year, the firm posted $1.09 EPS. Bristol-Myers Squibb’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Bristol-Myers Squibb will post 4.47 EPS for the current fiscal year.
In other news, insider Louis S. Schmukler sold 25,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total value of $1,414,000.00. Following the completion of the transaction, the insider now owns 31,963 shares in the company, valued at approximately $1,807,827.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John E. Elicker sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $56.66, for a total value of $849,900.00. Following the completion of the sale, the senior vice president now owns 74,471 shares of the company’s stock, valued at approximately $4,219,526.86. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $26,000. Lenox Wealth Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 555.7% in the third quarter. Lenox Wealth Advisors LLC now owns 636 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 539 shares in the last quarter. Financial Gravity Wealth Inc. lifted its holdings in shares of Bristol-Myers Squibb by 101.2% in the third quarter. Financial Gravity Wealth Inc. now owns 650 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 327 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Bristol-Myers Squibb by 52.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 665 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 230 shares during the period. Finally, 1 North Wealth Services LLC bought a new position in shares of Bristol-Myers Squibb in the third quarter valued at approximately $41,000. 83.02% of the stock is currently 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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