Goldman Sachs Group Inc. Reiterates Buy Rating for Bristol-Myers Squibb Co. (BMY)
Bristol-Myers Squibb Co. (NYSE:BMY)‘s stock had its “buy” rating restated by Goldman Sachs Group Inc. in a note issued to investors on Tuesday. They presently have a $75.00 target price on the biopharmaceutical company’s stock. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 36.14% from the stock’s previous close.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 13th. Berenberg Bank restated a “buy” rating on shares of Bristol-Myers Squibb in a research report on Tuesday, July 12th. Vetr upgraded Bristol-Myers Squibb from a “sell” rating to a “buy” rating and set a $78.79 price objective for the company in a research report on Tuesday, June 7th. TheStreet upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research report on Tuesday, May 31st. Finally, Citigroup Inc. cut their price objective on Bristol-Myers Squibb from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Bristol-Myers Squibb currently has a consensus rating of “Hold” and an average price target of $69.91.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 55.09 on Tuesday. Bristol-Myers Squibb has a 12 month low of $54.93 and a 12 month high of $77.12. The company has a 50-day moving average price of $57.43 and a 200-day moving average price of $67.23. The company has a market capitalization of $92.05 billion, a P/E ratio of 32.22 and a beta of 0.61.
Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. The company earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.60 billion. Bristol-Myers Squibb had a return on equity of 24.92% and a net margin of 16.63%. Bristol-Myers Squibb’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. On average, analysts forecast that Bristol-Myers Squibb will post $2.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, October 5th. Bristol-Myers Squibb’s payout ratio is 87.36%.
In related news, Director Lamberto Andreotti sold 23,200 shares of the stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $74.45, for a total transaction of $1,727,240.00. Following the transaction, the director now owns 380,099 shares of the company’s stock, valued at approximately $28,298,370.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BMY. Vanguard Group Inc. raised its position in Bristol-Myers Squibb by 3.4% in the second quarter. Vanguard Group Inc. now owns 109,554,831 shares of the biopharmaceutical company’s stock valued at $8,057,758,000 after buying an additional 3,595,648 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $154,732,000. Sustainable Growth Advisers LP increased its stake in shares of Bristol-Myers Squibb by 1,957.1% in the second quarter. Sustainable Growth Advisers LP now owns 1,402,482 shares of the biopharmaceutical company’s stock valued at $103,153,000 after buying an additional 1,334,303 shares during the period. Jarislowsky Fraser Ltd increased its stake in shares of Bristol-Myers Squibb by 240.6% in the second quarter. Jarislowsky Fraser Ltd now owns 1,885,751 shares of the biopharmaceutical company’s stock valued at $100,571,000 after buying an additional 1,332,163 shares during the period. Finally, WestEnd Advisors LLC bought a new stake in shares of Bristol-Myers Squibb during the second quarter valued at $94,956,000. 72.91% of the stock is currently owned by hedge funds and other institutional investors.
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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